Petro Welt Technologies AG engages in the provision of oil and gas field services. It operates through the Well Services and Drilling, Sidetracking and integrated project management (IPM) business segments. The Well Services segment encompasses hydraulic and multi-stage fracturing, and remedial cementing. The Drilling, Sidetracking and IPM segment offers services for oil and gas formations. The company was founded by Volkmar SchÃ¼tze and Hans Joachim Mundhenk in 1991 and is headquartered in Vienna, Austria.