Serimax, a Vallourec subsidiary, a world leader in offshore & onshore welding solutions, and Technip, a world leader in oil & gas project management, engineering and construction for the energy industry, signed today an agreement in principle in order to achieve a strategic partnership in the domain of pipeline welding. In this respect, Technip, a long-lasting customer of Serimax, would acquire a minority stake in Serimax.
Technip and Serimax will combine their expertise and will deploy the Serimax welding technology at Technip’ spoolbases* and S-lay** vessels.
This will allow both partners to:
- offer high end competitive capabilities to address operators’ capital investment constraints for future projects;
- invest in joint R&D programs and innovative reel-lay welding solutions to meet the growing technical challenges of projects;
- increase operational performance through enhanced productivity, improved scheduling and higher integration of the value chain.
This strategic partnership, which is subject to regulatory approvals, will include exclusive arrangements in the Reel-lay welding*** pipeline segment as well as research and development (R&D) related programs.
Serimax will remain an independent service and technology provider, nd will continue to serve its clients in the offshore, onshore pipeline and fabrication markets.
* A spoolbase is primarily used for the fabrication and spooling of rigid pipe onto vessels with Reel-lay capability. Technip owns and operates four rigid pipe spoolbase facilities located close to clients' deepwater developments.
** S-lay refers to a pipeline laying method for which all assembly activity of the pipe is done onboard the vessel and laid simultaneously offshore.
*** Reel-lay refers to a pipeline laying method for which the pipes are assembled in an onshore spoolbase and then spooled onto reels on vessels or at quay side. The pipe is then unspooled from reels during offshore activities.