Houston, Texas – M-I SWACO has acquired United Kingdom based water treatment and produced sand management company CYCLOTECH to further enhance the M-I SWACO Production Technologies offering. CYCLOTECH is the leading provider of process enhancement technologies for the oil and gas production industry.

“The acquisition is highly complementary to the M-I SWACO EPCON* business,” said John Kelly, senior vice-president of Production Technologies, “and will allow us to deliver a more complete and holistic solution to meet our customers’ needs in the waste streams associated with oil and gas production worldwide.”

Based in Basingstoke, United Kingdom, CYCLOTECH specializes in produced water treatment and produced sand management products, and process debottlenecking of oil and gas production. CYCLOTECH was formed in 1994 as a provider of specialized, compact separation technology and processes to the oil and gas industry. The company is focused on solutions that directly improve environmental performance and facilitate increased and extended production. The company’s solutions combine proven and innovative technology with expert process design, and seek to deliver the profitability required to sustain technological advantage.

The market for oil and gas production waste stream management is expected to grow significantly over the coming years as operators are forced to deal with increasing water and sand production while striving to minimize new infrastructure additions. The acquisition of CYCLOTECH solidifies the M-I SWACO position as the leading provider of solutions to the oil and gas production industry.

M-I SWACO, which is based in Houston, TX and jointly owned 60% by Smith International, Inc. (NYSE, PSE:Sii) and 40% by Schlumberger Limited (NYSE:SLB), is a leading provider of a wide range of products and engineering services designed to deliver Drilling Solutions, Environmental Solutions, Wellbore Productivity and Production Technologies. The company is strategically located in more than 70 countries.