Forum Energy Technologies Awarded Contract for Eight Remotely Operated Vehicles
02 September 2014 - 11:32PM
Business Wire
Forum Energy Technologies, Inc. (NYSE: FET) today announced that
it has received an order from Vard Holdings Limited (“VARD”) to
supply eight Perry XLX 150HP work-class remotely operated vehicle
(ROV) systems. The ROVs are to be mobilised on four new-build
pipeline supply vessels (PLSV) for the joint venture formed by DOF
Subsea and Technip that was awarded four contracts by Petróleo
Brasileiro S.A. (Petrobras) for operations in Brazilian waters. The
ROVs will be delivered throughout 2015.
Two of the PLSVs will have a 300-ton laying tension capacity and
will be fabricated in Brazil with a high national content. The
other two PLSVs are designed to achieve a 650-ton laying tension
capacity, thus enabling the installation of large diameter flexible
pipes in ultra-deepwater environments, such as the Brazilian
pre-salt. These vessels have ground breaking capabilities for
vessels of this type and size, requiring ROV services for
pipe-laying at depths down to 3,000 meters. The Perry XLX systems
comply with the Petrobras’ requirements for accuracy and
precision.
VARD will be in charge of the design and construction of the
four PLSVs. The two 650-ton vessels will be constructed at Vard
Søviknes, Norway, while the two 300-ton vessels will be constructed
at Vard Promar, Recife in Brazil.
“Forum is delighted to establish this association with the DOF
Subsea and Technip joint venture and view this as further
supporting our long term relationship with both partners,” said
Bill Boyle, Forum Subsea Technologies’ Senior Vice President. “The
choice of Perry vehicles for the operationally demanding market is
indicative of our client’s confidence in the long established
reliability, operational resilience and safety record of the XLX
series. This award validates Forum Subsea’s strategy of providing
ongoing first class engineering and after-market customer support
to offshore contractors from our operating facilities in key
regions. The customer support will be provided from our established
team based in our operating facility in Rio das Ostras,
Brazil.”
About Forum Energy Technologies
Forum Energy Technologies, Inc. is a global oilfield products
company, serving the subsea, drilling, completion, production and
infrastructure sectors of the oil and natural gas industry. The
Company’s products include highly engineered capital equipment as
well as products that are consumed in the drilling, well
construction, production and transportation of oil and natural gas.
With over 3,500 employees, Forum is headquartered in Houston, TX
with manufacturing and distribution facilities strategically
located around the globe. For more information, please visit
www.f-e-t.com.
About the DOF Group
DOF Subsea is a part of the DOF Group. With a multi-national
workforce in excess of 4,000 personnel, the DOF Group is a global
group of companies which owns and operates a fleet of more than 70
modern offshore and subsea vessels, and has the engineering
capacity to service both the offshore and subsea market. With over
30 years in the offshore business, the Group has a strong position
in terms of experience, innovation, product range, technology and
capacity. The DOF Group's core businesses are vessel ownership,
vessel management, project management, engineering, vessel
operations, survey, remote intervention and diving operations
primarily for the oil and gas sector. From PSV charter to Subsea
engineering, DOF offers a full spectrum of top quality offshore
services to facilitate an ever-growing and demanding industry. The
Group's main operation centers and business units are located in
Norway, the UK, the USA, Brazil, Argentina, Egypt, Angola,
Singapore and Australia.
DOF Management AS and its representatives are assigned the task
of project management for the PLSV project, with strong support
from Technip’s experts on the top side equipment.
DOF ASA shares are listed on the Oslo Stock Exchange (DOF).
www.dof.no
About Technip
Technip is a world leader in project management, engineering and
construction for the energy industry. From the deepest Subsea oil
& gas developments to the largest and most complex Offshore and
Onshore infrastructures, our 40,000 people are constantly offering
the best solutions and most innovative technologies to meet the
world’s energy challenges. Present in 48 countries, Technip has
state-of-the-art industrial assets on all continents and operates a
fleet of specialized vessels for pipeline installation and subsea
construction. Technip shares are listed on the NYSE Euronext Paris
exchange and traded in the USA on the OTCQX marketplace (OTCQX:
TKPPY).
www.technip.com
About VARD
Vard Holdings Limited (“VARD”), together with its subsidiaries
(the “Group”), is one of the major global designers and
shipbuilders of offshore and specialized vessels used in the
offshore oil and gas exploration and production and oil services
industries. Headquartered in Norway and with 10,000 employees, VARD
operates ten strategically located shipbuilding facilities,
including five in Norway, two in Romania, two in Brazil and one in
Vietnam. VARD’s long shipbuilding traditions, cutting-edge
innovation and technology coupled with its global operations ensure
access to the fastest growing oil exploration markets. The Group’s
expertise and track record in constructing complex and highly
customized offshore and specialized vessels have earned it
recognition from industry players and enabled it to build strong
relationships with its customers. VARD was listed on the Main Board
of the Singapore Exchange on 12 November 2010. Majority shareholder
Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of
Fincantieri – Cantieri Navali Italiani S.p.A., owns 55.63% in the
Group. Headquartered in Trieste, Italy, Fincantieri is one of the
world’s largest shipbuilding groups and has, over its 200 years of
maritime history, built more than 7,000 vessels.
www.vard.com
Forum Energy Technologies, Inc.Investor ContactMark
Traylor, 281.368.1108Vice President, Investor Relations and
Planningmark.traylor@f-e-t.comorMedia ContactDonna Smith,
281.949.2514Director, Marketing &
Communicationsdonna.smith@f-e-t.com
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