Trelleborg awarded its largest ever offshore oil & gas order

Source:Trelleborg

Trelleborg awarded its largest ever offshore oil & gas order Trelleborg (STO:TRELB) has, through its business area Trelleborg Offshore & Construction, been awarded a contract to supply drill riser buoyancy modules (DRBMs) (http://www.trelleborg.com/en/offshore/Products-and-Solutions/Drilling/Rigid-Riser-Buoyancy-Modules/) to one of the major leading drilling companies in the world. The order is the largest to date for the offshore operation of Trelleborg and is in the range of USD 50-60 M depending on final project scope. This order, together with other strategic orders recently awarded and a few pending, reinforces Trelleborg’s position as a leading global manufacturer within the subsea buoyancy market.

The drill riser buoyancy modules will be produced at Trelleborg’s facilities in Houston, Texas, U.S., starting first quarter 2014 and will be delivered through to the end of 2015. Trelleborg has invested significantly in the oil & gas segment. This record order is an acknowledgment of Trelleborg’s strong position within this attractive market segment.

“We are delighted about the contract, not only because we have the opportunity to apply our advanced solutions for exploration and extraction of oil and gas in ever-deeper waters, but also because of the sheer scale and prestigious nature of the project itself. We expect this type of large and complex solutions – requiring in-depth engineering and application know-how – to become more prevalent, going forward. It underlines our global reach as well as second-to-none capabilities within subsea polymer solutions,” says Fredrik Meuller, President of the Trelleborg Offshore & Construction business area.

“For our offshore business, the financial strength and support of a large industrial group such as Trelleborg is incomparable with that of our competitors. This is a clear competitive advantage that is becoming more important within the subsea buoyancy (http://www.trelleborg.com/en/offshore/Products-and-Solutions/Subsea/) market as it grows and gets more complex and demanding,” concludes Fredrik Meuller.

A drill riser provides a conduit for the drill string and drilling fluids from the ocean floor to the rig. This has significant weight which must be supported by its own structure and ultimately by the drilling vessel. In order to reduce this weight in water to a more manageable level, individual buoyancy units in the form of drill riser buoyancy modules (DRBMs) are fitted along the length of the riser.

Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative engineered solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 21 billion in over 40 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. In addition, Trelleborg owns 50 percent of TrelleborgVibracoustic, a global leader within antivibration solutions for light and heavy vehicles, with annual sales of approximately SEK 14 billion in about 20 countries. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on NASDAQ OMX Stockholm, Large Cap. www.trelleborg.com

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