Corac inks pact with ASSEAL.

Corac, which specialises in compressor technology, has signed its first licensing deal. UK seals manufacturer ASSEAL will have exclusive rights to manufacture and sell Corac's patented seals technology in exchange for an upfront payment, a royalty, and the promise of further engineering consulting work.

It follows the initiation in May of what Corac has called a Joint Industry Programme (JIP), in partnership with Shell, ENI and other companies, to further develop Corac's downhole gas-compression technology. That technology could have the potential to extend the life of