The Oiltec Solutions company-roots dates back to 1996 as part of Hitec ASA, where the same employees as of today were part of the development of the world’s first 3D drilling simulator. National Oilwell Varco acquired part of Hitec ASA in year 2000. The drilling simulator and crane simulator business was not part of the acquisition. This was also the starting-point of HitecVision private equity. What then became Hitec-O as independent simulator company was later acquired by L-3 Communication MPRI Norway for its unique simulator technology. Taking our leading simulator technologies internationally was the main objective of the acquisition by L-3.
Oiltec Solutions AS was founded in 2008 as an independent Private Limited Company. Co-founders Tom Bremer and Lars Namork structured a MBO from L-3 Communications. At that time all employees were offered part ownership. In 2009 Oiltec Solutions made a private placement where HitecVision indirectly acquired 51% of the company. Oiltec Solutions is now part of the Teresoft Group (owned by HitecVision), a technology venture company that focus on technologies for improving drilling and crane competence and operational execution for the oil and gas contractors, International Oil Companies (IOCs) and National Oil Companies (NOCs), as well as marine and port companies.
To read more about Teresoft Group, visit: teresoft.no
HitecVision indirectly: 51%
Oiltec Employees: 49%
Lars Namork has his background from companies like Honeywell, GE O&G and Hitec ASA. He has been working with international sales and negotiations more than 25 years. He is one of the co-founder of Oiltec Solutions and he is responsible for global sales. Through his impressive commercial track-record and leading executive positions in different international companies, Lars has built an extensive international business experience.
Svein Arne Moi
Svein Arne Moi brings years of experience working with technology-driven companies as well as valuable industry experience. He is currently the General Manager of Trade Tech, another company in the HitecVision investment portfolio. He has held several senior leading positions in National Oilwell Varco system over the years and gained an excellent reputation for his results. Before that he held leading positions, both in Hitec ASA and Kvaerner Engineering.
Øystein Mehus is our Director of Product Development. Øystein has extensive product management, project management and software development experience through innovative projects within both Oil and Gas and Maritime transport sector. Øystein is also deeply involved in our strategy and business development for new products, as well as our projects and services. Øystein has previous Board experience from Hitec O and CP Foreningen.