Fishbones

What Fishbones does

Fishbones AS is a Norwegian private limited company founded in 2009, headquartered at Fabrikkveien 11, 4033 Stavanger, that develops a proprietary needle-based stimulation technology for oil and gas and geothermal wells. The technology deploys discrete needles inside wells to deliver controlled stimulation, positioning itself as an alternative to conventional hydraulic fracturing by avoiding uncontrolled fractures while claiming 95% lower CO2 emissions, reduced stimulation time and cost, and the ability to enable multi-lateral well designs. Documented deployments include 5,575 needles installed across 5 continents, with the deepest installation reaching 5,495m TVD and the longest horizontal section reaching 2,675m.

The company's product surface is concentrated in a single core offering — Fishbones Stimulation Technology — applied across two verticals: Oil and Gas Operators (primary) and Geothermal Energy. Operations are supported by ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, plus Achilles and Magnet JQS oil-and-gas supply-chain pre-qualifications, which gate access to major operator tenders in Europe.

Fishbones monetizes through technology deployment and services in well stimulation, with a stated subscription/recurring revenue model that the underlying data describes as encompassing technology licensing, equipment sales, and stimulation services. The company runs an enterprise field-sales GTM targeting major oil and gas operators, anchored by a strategic co-development and Valhall-field deployment partnership with Aker BP. In January 2024, Fishbones and Aker BP initiated a joint project, supported by a NOK 1.25 million grant from The Research Council of Norway, to extend hydrocarbon recovery needle reach by 50%. The company also shows expansion intent via an open Technical Sales Manager MENA hire. The firm is privately held with no disclosed parent, institutional investor, or public listing.

Name

Fishbones

Legal name

Fishbones AS

Website

https://fishbones.as

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Fishbones AS is a Norwegian private technology company that develops proprietary needle-based well stimulation systems for oil and gas and geothermal operators, claiming 95% lower CO2 emissions than hydraulic fracturing. It serves major energy operators through an enterprise field-sales model anchored by a strategic partnership with Aker BP.

Ownership category

akta.pro rank

Product category

Well Stimulation Technology

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF)

akta.pro secondary industries

Completion Tools & Subsurface Equipment (Packers, Liners, Valves, Sand Control) (EUALABAD), Well Construction & Completion Services (Cementing, Casing, Tubular Running) (EUALABAC), Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)

Keywords

• Well stimulation technology
• Oilfield services
• Downhole tools
• Geothermal drilling
• Reservoir stimulation

Headquarters

HQ city

Sandnes

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Well Stimulation Technology and Services: Technology deployment and services for well stimulation in oil and gas and geothermal wells. Revenue generated through technology licensing, equipment sales, and stimulation services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Fishbones develops and deploys proprietary well stimulation technology that uses discrete hydrocarbon recovery needles installed downhole to enable controlled stimulation of oil and gas and geothermal wells. The technology is sold/licensed and delivered as equipment and associated services, supporting multi-lateral well designs while avoiding uncontrolled fracturing.

Product overview

Fishbones offers a single unified core product — its Stimulation Technology — designed for both Oil and Gas and Geothermal well applications. The technology enables Aker BP and other operators to increase reservoir recovery, reduce stimulation time and cost, and enable multi-lateral well designs through the installation of discrete needles.

Differentiator

Problem solved

Functional benefit

Products and services

• Fishbones Stimulation Technology

Quantifiable outcome

• 95% lower CO2 emissions compared to hydraulic fracturing
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Aker BPcoreStrategic or Co-development PartnerStrategic partnership for developing and deploying Fishbones stimulation technology. Aker BP is using the technology in the Valhall field to increase recovery while reducing stimulation time and cost. Joint development project to extend hydrocarbon recovery needle reach by 50%.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Halliburton: Global oilfield services major offering conventional hydraulic fracturing and stimulation across all major basins. Largest incumbent player whose high-end fracking offering Fishbones is positioned against as a more controlled, lower-emission alternative.
• SLB (formerly Schlumberger): World's largest oilfield services provider with broad stimulation, completion, and production portfolios. Direct comparison point for Fishbones on stimulation technology, although SLB's offering spans the full upstream chain rather than specializing in a niche.
• Baker Hughes: Global oilfield services incumbent with significant stimulation and completion operations in conventional and unconventional plays. Competes with Fishbones at the buyer level for stimulation service contracts across operator portfolios.

Direct peers

• Packers Plus Energy Services: Specialist provider of multi-stage completion and stimulation tools (e.g., StackFRAC systems) for unconventional and conventional wells. Closest functional peer to Fishbones in needle-based, stage-controlled stimulation for improved recovery.
• Tendeka: Provider of downhole completion tools including sand control, inflow control, and zonal isolation products for upstream operators. Comparable as a niche specialist targeting controlled, precision downhole interventions rather than conventional high-end stimulation.
• Altus Intervention: Well intervention and stimulation specialist serving global operators with coiled tubing, vessel-based, and downhole intervention services. Functional peer to Fishbones given shared emphasis on controlled, precision-oriented wellbore interventions.
• Viking Completion Technology: Independent Norwegian-headquartered completion technology company focused on downhole tools, including stimulation screens and completion accessories. Relevant peer given similar subsea/completion niche and Scandinavian oil & gas customer overlap.
• Probe Technology Services: Wellbore cleaning, milling, and intervention tool specialist serving upstream operators across multiple regions. Comparable to Fishbones as a technology-driven intervention specialist enabling controlled downhole operations rather than bulk hydraulic stimulation.
• NCS Energy Services: Provider of specialized intervention and integrity services to the upstream oil & gas sector, with overlap into downhole tool deployment and wellbore services. Peer given shared focus on specialized, technology-enabled well services rather than mass-frac stimulation.

Regional players

• Norse Energy Services: Scandinavia/UK-region focused well intervention and pumping services provider serving North Sea operators. Relevant regional peer to Fishbones given shared North Sea/European customer base and comparable intervention service offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fishbones-as

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fishbones