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Hydratight Secures New Contract with Statoil

Source: www.gulfoilandgas.com 8/4/2016, Location: Europe

Subsea connector specialist Hydratight has secured a four-year contract with Statoil Petroleum AS to supply products, services and management for remote pipeline repairs worldwide. Hydratight’s MORGRIP® contingency connectors will be the primary mechanical repair method within Statoil’s Pipeline Repair and Subsea Intervention (PRSI) pool. The contract period is initially for four years and has the option to be extended by a further three plus three years.

Under the terms, Hydratight will provide mechanical connector products, services and contract management globally for Statoil and PRSI Pool members. It will include provision of the MORGRIP® inventory, new remote/diverless pipeline repair solutions and engineering support.

Alain Wald, ESSAI Regional Leader at Hydratight, said: “Statoil manages more than 15,000km of subsea pipeline in the North Sea alone. We’re delighted to agree a new contract which means we will provide connectors to the PRSI Pool for a considerable time.”

“Statoil sets the standard for PRSI and we’ve been proud to support the model. We believe in our expertise and equipment and will continue to build on our strong track record and relationship with Statoil. The connectors we supply are our most sophisticated products and designed specifically for remote repairs.”

Each connector undergoes stringent activation and installation testing, in workshop settings and simulation environments. With more than 2800 connectors deployed to date, they have a 100% leak free in service history and are used around the world as a permanent pipeline repair solution. They also have a 30 year design life and have comprehensive third-party approvals, including DNV GL and ABS.

More about Hydratight:

Hydratight provides world-class bolted joint solutions and machining services, plus innovative mechanical weldless connectors, to power generation, oil and gas, nuclear, wind and aerospace industries. Over the last 20 years Hydratight has pioneered systems for complete joint integrity assurance that are now incorporated in industry-wide safe-working guidelines around the world.

Hydratight is wholly owned by Actuant Corporation, a diversified industrial company serving customers from operations in more than 30 countries and headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU.

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