Leading global law firm Herbert Smith Freehills has advised Sumitomo Corporation on its acquisition of a stake in Sekal, a software technology company based in Norway offering real time dynamic analytics and automated drilling process control for the oil and gas industry.
Sumitomo, one of Japan's largest corporate conglomerates, has committed to continued investment in companies possessing innovative technology, to embrace the needs of changing times and contribute to the world’s industrial development.
Sekal has developed some of the world’s most advanced software, enabling the operator to reduce human error by pro-actively providing the driller with real-time monitoring and automated drilling process control. This should bring further efficiency and safety to the oil and gas industry.
"We are proud to have worked with long-standing client Sumitomo on its acquisition of a stake in Sekal," said Tokyo partner Graeme Preston. " It is a fascinating company, developing real innovations in data analysis and automation for drilling companies We wish Sumitomo and Sekal every success for the future."
Graeme and London partner and head of global M&A Gavin Davies led the team advising Sumitomo assisted by senior associates Joe Fisher, Paul Flynn, Brian O'Malley and Jennifer Wu.