Under the MoU, Weatherford ESP, powered by Valiant, will also be marketed and serviced.
The pumps are optimised for a range of flow applications and are designed for durable productivity in adverse, abrasive, corrosive and otherwise challenging downhole environments.
The MoU is said to create market-expansion opportunities for both Weatherford and Valiant and details target markets for the former, as well as joint markets in which both companies will collectively pursue business opportunities.
Weatherford International Production president Kyle Chapman said: “Valiant offers an impressive combination of technical expertise and service excellence.
“This alliance meshes well with our strategy to capture share in key markets and strengthens our global leadership for life-of-well production solutions.”
With the addition of the ESP, Weatherford will be able to enhance its portfolio of products and services for all forms of artificial lift. Furthermore, the company can strengthen its global leadership in production systems.
For Valiant Artificial Lift Solutions, the alliance is expected to accelerate its reach worldwide.
Both companies will retain their respective markets they are currently serving.
Valiant Artificial Lift Solutions founder, CEO and president Gareth Ford said: “This project is a great opportunity to expand our services to the global production community.
“We are pleased with the results of this collaboration and believe it will drive stakeholder value for Valiant, Weatherford and our collective customers.”