news


Subsea7 wins Varg contract


Subsea 7 has secured a $60m contract from Talilsman Energy Norge to develop a gas export pipeline for the Varg field, which is located 200km off the Norwegian coast west of Stavanger. The project includes engineering, procurement, installation and construc- tion of a 6km flowline and flexible riser system, as well as the installation of associated sub-sea structures, protection systems and tie-ins. Engineering work will begin next summer. “We are pleased with this


award, which recognises our strong track record as an EPIC contractor and our ability to deliver technical and project solutions matching the needs of our customers,” said Stuart Fitzgerald, Subsea 7’s vice president Norway. Subsea 7 reported a 12%


increase in revenues for the first half of this year, up from $2.6bn in 2011 to $2.9bn. ❙ www.subsea7.com


Shawcor gains control of Socotherm business


Canada’s Shawcor has acquired Sophia Capital’s 60% share interest in Fineglade Limited, giving it control of 96% of the outstanding shares in Italy’s Socotherm. Shawcor paid around


CAN$135m to acquire the stake in Fineglade in October, which includes offsetting a pre-existing CAN$58m loan. Socotherm is an international pipe coater operating in Brazil, Argentina, the Gulf of Mexico and Italy. It delisted from the Italian stock exchange in 2011. The Socotherm move


follows Shawcor’s announce- ment in September that it had initiated a strategic review after Shawcor chair and controlling shareholder Virginia Shaw said she would consider a sale of her holding. The Canadian company, which generated revenues of CAN$1,157m in 2011, saw its revenues grow from CAN$544m to CAN$636m for the first six months of this


of major projects during the summer. These include a CAN$40m contract for the 77km 36-inch diameter Linea 5 pipeline project operated by Petróleos Mexicanos. Bredero Shaw will provide FBE and concrete weight coatings and supply heat shrinkable joint protection sleeves from sister company Canusa- CPS. Coating will begin during the third quarter. Bredero Shaw also


Finished pipes at Socotherm


year. Order backlog grew by 11% to a record level of CAN$749m, according to president and CEO Bill Buckley “With production on several of these orders now underway, the company is confident that strong year over year growth in revenue and profit will be reported commencing in the third quarter of 2012 and continuing through 2013,” said Buckley. Shawcor’s Bredero Shaw division has secured a number


secured a CAN$100m contract to coat a further


148km of pipe ranging from 6 to 18-inch diameter for the Ichthys LNG pipeline project in the Browse Basin field off the coast of Western Australia. The project calls for applica- tion of a 3LPP anticorrosion coating and application of the company’s proprietary Thermotite multi-layer PP insulation system. Coating will commence at the company’s sites in Indonesia and Malaysia in the second quarter of next year. ❙ www.shawcor.com


Exova invests $600,000 in US testing facility


International testing group Exova has invested $600,000 in improving its pipeline corro- sion testing capabilities at its facility at Houston in the US. The company says the


investment is needed to meet the growing demand it is


4


experiencing for its testing services from the North American market. The investment includes a


33% expansion in its autoclave capacity – which can test at up to 315˚c and 10,000psi – as well as two extra slow strain


PIPELINE COATING | November 2012


rate testing frames. “Growth in demand for our


services has been prompted by increased exploration and drilling activity combined with tougher new Environmental Protection Agency legislation,” said Robert Archibald, vice


president US materials, oil and gas at Exova. “This investment will see us increasing our capacity and enhancing our technical expertise to serve and exceed client require- ments.” ❙ www.exova.com


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