HOUSTON--(BUSINESS WIRE)--Sep. 2, 2014--
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
Source: Forum Energy Technologies, Inc.
Forum Energy Technologies, Inc.
Investor Contact
Mark
Traylor, 281.368.1108
Vice President, Investor Relations and
Planning
mark.traylor@f-e-t.com
or
Media
Contact
Donna Smith, 281.949.2514
Director, Marketing &
Communications
donna.smith@f-e-t.com