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DAILY NEWS
Aug 29, 2008 1:03 PM
Mostar Directional Expands, Increasing Private Investment In R&D
CALGARY, Alta.
2008-08-29
Due to increasing international demand for its technology, and as a result of continuous growth, Calgary-based Mostar Directional will go forward with plans to invest significantly increased capital in its in-house research and development program and the growth of its U.S. operations.
Anticipated investment values were withheld, however, Mostar confirmed that, to-date it has already invested millions in research and development.
"New technology is critical to the progression of the industry as a whole," adds John Petrovic, vice-president. "This change will enhance our existing technological offering and create even more progressive directional drilling solutions for the oil and gas industry."
In conjunction with this move, Mostar will expand and reorganize its operations. The company is in the process of completing extensive renovations at its operations facility where it houses one of the industry's most well-equipped mud motor shops and its own world-class oilfield manufacturing and servicing facility.
"We're expanding our engineering and design facilities now introducing a new, state-of-the-art, research and development lab and extending our office space to create a more streamlined and efficient work environment for our team," says Petrovic.
New engineering, design and technical staff members have already joined the team from industry-leading companies as part of the growth in both R&D and MWD functions.
When asked for further details regarding innovations in progress, Petrovic commented, "We've got a number of ideas in development now. You'll have to wait and see."
Mostar Directional Technologies Inc. is a privately-held organization that specializes in providing directional drilling and Measurement While Drilling (MWD) expertise and solutions for the oil and gas industry.
