Energy Ventures Invests in Sense Intellifield A.S

The Norwegian venture capital group Energy Ventures announced today that they have closed an investment in Sense Intellifield AS, Norwegian technology company based in Kristiansand.

The parent company, Sense Technology ( http://www.sensetech.no/ ), is a leading supplier of equipment and services for automation and remote operation of offshore installations. Activities related to remote operations will in the future be carried out under the name of Sense Intellifield AS.

Remote operations enables the customer to achieve higher productivity in their offshore operations through better decisions as well as improved safety and lower costs related to reduced manpower offshore.

Sense has over the last several years established a leading position in providing state-of-the-art solutions for remote operations. This includes deliveries of control centers for drilling & well services and production to both majors and super-major oil and gas companies. The company has since inception focused on providing open solutions enabling oil and gas companies better integration of data in standardized formats.

Sense has also developed a number of unique products related to data management and transfer solutions. The new "SiteCom" product represents a break-through in acquisition, distribution, storage and monitoring of drilling and rig data. It is a networked information system that uses industry standards, such as WITSML, for storing data and distributing between rigs, operation centers, field offices, headquarters using existing networking infrastructure.

"Sense Intellifield has an exceptional management team with a track record of building and growing new businesses", said Ole Melberg, Energy Ventures Managing Partner. "The company has a unique market position supplying technology and products for remote operations which we think is a segment of the oil and gas business which holds great promise for the future."

Chairman of Sense Intellifield, Børge Kolstad said: "We are very pleased to have Energy Ventures join us in the efforts towards growing the company and creating exceptional value for customers, employees and shareholders of the company. Energy Ventures network, knowledge and distinct focus on the oil and gas business will be important in the future development of the company."

Sense Intellifield raised a total of NOK 16 million from new investors. After the share issue the largest shareholders are Energy Ventures, Sense Technology and Itlution AS.

Sense Intellifield has 13 employees today, plus another 4-6 engineers on contract for the company in new technology development projects. The plan is to expand its activities and number of engineers significantly ahead.

Further enquiries:
Sense Intellifield: Børge Kolstad, + 47 90 55 88 33
Energy Ventures: Ole Melberg, + 47 95 22 60 30

Energy Ventures is a venture capital group based in Stavanger, Norway focusing on growth technology companies in the energy sector. More information can be found on: http://www.energyventures.no/