What Petro Welt Technologie.Ag does

Petroleum Engineering and World Technology GmbH (PeWeTe) is a Vienna-headquartered, privately held oil field services company founded in 1991 that specializes exclusively in hydraulic fracturing for oil and gas producers in Kazakhstan. Operations are executed through its wholly-owned operating subsidiary Petro Welt Technologies Kazakhstan LLP, which delivers well-productivity enhancement and reactivation of decommissioned wells using state-of-the-art equipment largely sourced from European and US manufacturers. The company employs 141 people and reported EUR 17 million in annual revenue for 2024.

The business model is a single-segment, enterprise B2B professional services model. PeWeTe generates revenue by contracting directly with the largest oil and gas producers in Kazakhstan to perform fracturing campaigns; pricing is quote-based and not publicly disclosed. Go-to-market is enterprise field sales to a narrow set of major regional oil and gas operators, with no channel partners, resellers, or digital self-serve motion. The company reports a 509-job broader employment footprint, suggesting a multiplier effect via contractor and field labor in Kazakhstan.

Leadership comprises CEO Denis Stankevich and CFO Kirill Bakhmetyev, each with roughly 25 years of energy/oil industry experience. The company is structured as a private limited company registered in Austria (ATU62274005; FN 69011 m) with no parent company, no disclosed investors, and no public listing. The 2024 corporate narrative explicitly frames Kazakhstan as a strategic supplier to the European energy market (~2 million bbl/day, ~11% of EU oil imports), positioning the company within the EU's diversification agenda away from Russian energy supply.

Name

Petro Welt Technologie.Ag

Legal name

Petroleum Engineering and World Technology GmbH

Website

https://pewete.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Petroleum Engineering and World Technology GmbH (PeWeTe) is a Vienna-based, privately held oil field services firm founded in 1991 that provides hydraulic fracturing to major oil and gas producers in Kazakhstan via its wholly-owned subsidiary Petro Welt Technologies Kazakhstan LLP, reporting EUR 17 million in 2024 revenue.

Ownership category

akta.pro rank

Product category

Oil Field Services

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

akta.pro secondary industry

Field Development & EOR/IOR for Gas (Compression, Refracturing, Reservoir Management) (EUAAAAAM)

Keywords

• Oil field services
• Hydraulic fracturing services
• Well productivity enhancement
• Well reactivation services
• Upstream oil services

Headquarters

HQ city

Vienna

HQ country

Austria

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain

Revenue model

1. Oil Field Services: Services focused on hydraulic fracturing operations for oil and gas producers in Kazakhstan, including well productivity enhancement and reactivation of decommissioned wells

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Petro Welt Technologie.Ag (PeWeTe) is an independent provider of oil field services focused exclusively on hydraulic fracturing. The company delivers technical fracturing operations in Kazakhstan through its operating subsidiary Petro Welt Technologies Kazakhstan LLP, increasing the productivity of existing oil and gas wells and reactivating decommissioned wells for major oil and gas producers in the region.

Product overview

Petroleum Engineering and World Technology GmbH (PeWeTe) is a single-service oil field services company specializing in hydraulic fracturing. The company operates through its subsidiary Petro Welt Technologies Kazakhstan LLP, which delivers fracturing services to oil and gas producers in Kazakhstan. The portfolio consists of one core service offering focused on enhancing well productivity rather than a multi-product platform.

Differentiator

Problem solved

Functional benefit

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Petro Welt Technologies Kazakhstan LLPcoreOthersOperating subsidiary of Petroleum Engineering and World Technology GmbH that conducts the company's hydraulic fracturing operations in Kazakhstan and has established an excellent market position in the region.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Trican Well Service: Canadian oilfield services company with a core focus on hydraulic fracturing and well stimulation; closely comparable in being a frack-focused services provider.
• Liberty Energy: Pure-play hydraulic fracturing services provider in North America; directly comparable in business model (frack-only service line) and target customer (large upstream operators).
• Patterson-UTI Energy: Provides hydraulic fracturing and drilling services primarily in North America; comparable service-line mix and customer base (large E&P operators).
• ProPetro Holding: US-focused oilfield services company specializing in hydraulic fracturing and completion services; closely comparable to PeWeTe in service-line focus and customer profile.
• Calfrac Well Services: Canada-based oilfield services company specializing in hydraulic fracturing and well stimulation; comparable to PeWeTe in being a focused frack specialist serving upstream operators.

Broad incumbents

• Weatherford International: Multi-service oilfield services provider with fracturing operations and historical presence across the CIS region; comparable as an OFS competitor active in former-Soviet geographies.
• Baker Hughes: Major diversified oilfield services and equipment company with significant hydraulic fracturing operations globally; competes with PeWeTe in frack but as one segment of a broad portfolio.
• SLB (Schlumberger): Global oilfield services leader with comprehensive hydraulic fracturing capabilities across multiple regions; overlapping capabilities with PeWeTe as part of a much wider portfolio.
• Halliburton: One of the world's largest diversified oilfield services companies with a leading hydraulic fracturing service line; competes with PeWeTe in frack but offers frack as one of many service lines and at vastly greater scale.

Others

• Core Laboratories: Provides reservoir description and production enhancement services to upstream operators; adjacent rather than directly competing, but operates in the same production-optimization value chain as PeWeTe's frack services.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pewete-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 Petro Welt Technologie.Ag