HOUSTON--(BUSINESS WIRE)--Jun. 11, 2018--
Forum Energy Technologies, Inc. (NYSE: FET) announced today that it
received an order from Submarine Manufacturing and Products, Ltd. (SMP)
to supply a submarine rescue vehicle (SRV), a work-class remotely
operated vehicle (ROV), and associated launch and recovery systems. The
ROV and SRV will be delivered in 2019 and 2020, respectively, and
integrated by SMP with additional equipment for delivery to a navy in
the Far East.
The SRV, an onboard piloted rescue submarine, is similar to Perry’s
proven design of rescue vessels, and will incorporate the most current
subsea vehicle technologies. The SRV will be capable of operating in
depths greater than 500 meters, carrying a maximum of 19 people, and
will be fully integrated with a hyperbaric rescue facility supplied by
SMP. The SRV and ROV will be designed and manufactured at Forum’s
facility in Kirkbymoorside, United Kingdom.
The Perry XLX-C series ROV, will be used to support the SRV in its
operations by assessing and preparing a site for a submersible rescue.
The XLX-C will be fitted with Forum’s latest technology and will be
capable of delivering specialized equipment, including an Emergency Life
Support System, to a distressed submarine. A simulator, with a number of
scenarios, will be supplied as a training aid for the ROV pilots.
“The choice of Forum’s Perry vehicles validates that our subsea
technological capabilities are applicable to a wide range of uses
outside of our traditional oil and gas arena,” said Prady Iyyanki,
Forum’s Chief Executive Officer. “Our Subsea team has done a great job
diversifying into other applications. This is the largest multi-year
Subsea order we have received since our 2012 IPO and the first of the
global non-oil and gas project awards we hope to obtain this year.”
Forum Energy Technologies is a global oilfield products company,
serving the drilling, subsea, completions, production and infrastructure
sectors of the oil and natural gas industry. The Company manufactures
products that are consumed in the drilling, well completion, production
and transportation of oil and natural gas as well as highly engineered
capital equipment. 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.
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Source: Forum Energy Technologies, Inc.
Forum Energy Technologies, Inc.
Mark Traylor, 281.368.1108
President, Investor Relations