Shawcor Receives Contract for Application of Unique LotusFlo® Scale, Asphaltene and Wax Reduction Technology
18 Februar 2022 - 1:30PM
Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today
announced that its pipe coating division has been awarded a three
year contract with Vallourec S.A. to apply the unique LotusFlo®
technology to offshore downhole production tubulars designed for
the Buzios oilfields. The Buzios oilfields are located off the
coast of Brazil and operated by Petróleo Brasileiro S.A.
(“Petrobras”). With this award, Shawcor will increase its total
current orders for this technology, including additional orders in
the Gulf of Mexico market, to a range of C$18M-C$25M. The work will
be executed out of Shawcor’s Channelview facility and is expected
to commence in the fourth quarter of 2022, continuing over a
multi-year period on an as-needed basis.
LotusFlo is an innovative diamond-like carbon
coating technology that offers an advanced level of flow assurance
for the oil and gas industry. Developed to modify the surface to
decrease adhesion in oil-water flows, it has been proven to reduce
and possibly eliminate the deposition of scale, asphaltenes and wax
from the interior of tubulars and pipelines, delivering significant
cost reduction and production enhancement benefits to asset owners
over the life of an operating oil field, including: fewer and
shorter well interventions and less frequent chemical injections.
Aside from this new application for pre-salt Brazil, LotusFlo is
currently in service in the Gulf of Mexico and North Sea. Shawcor
is the exclusive license holder and sole provider of this
technology for applications to oil country tubular goods (“OCTG”),
in-well components, pipelines, flowlines and risers in the
global oil and gas industry.
“Using LotusFlo in Petrobras’ Buzios oilfields
represents the single largest implementation of this transformative
technology to date,” said Kevin Reizer, President of Shawcor’s
Pipeline Performance Division. “As we introduce LotusFlo into the
world’s most active offshore market, we are working with other
customers to pursue further opportunities around the world.”
The award of this contract is the result of an
extensive qualification program with Petrobras, one of the world’s
largest oil and gas producers, and Vallourec, a world-wide
premium tubular solutions provider. “It is very important for
Vallourec to be part of such an innovative project with Shawcor
which will bring significant benefits and cost savings for
Petrobras,” said Bruno Quaresma Gontijo, OCTG Downstream Business
Executive Manager of Vallourec.
About Shawcor
Shawcor Ltd. is a growth-oriented, global
material sciences company serving the Infrastructure, Energy, and
Transportation markets. The Company operates through a network of
fixed and mobile manufacturing and service facilities. Its three
business segments, Composite Systems, Automotive & Industrial
and Pipeline & Pipe Services enable responsible renewal and
enhancement of critical infrastructure while lowering risk and
environmental impact.
For further information, please contact:
Meghan MacEachernExternal Communications & ESG,
DirectorTelephone: 437.341.1848Email:
meghan.maceachern@shawcor.comshawcor.com
Forward Looking Information
This news release contains forward-looking
information within the meaning of applicable securities laws. Words
such as "may", "will", "should", "anticipate", "plan", "expect",
"believe", "predict", "estimate" or similar terminology are used to
identify forward-looking information. This forward-looking
information is based on assumptions, estimates and analysis made in
the light of the Company's experience and its perception of trends,
current conditions and expected developments, as well as other
factors that are believed by the Company to be reasonable and
relevant in the circumstances. Forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Shawcor Ltd.
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