Subsea 7 acquires Swagelining Limited
Luxembourg – 10 August 2016 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the acquisition of Swagelining Limited, the subsea industry’s leading polymer lining technologist, to further expand existing polymer pipeline technology interests.
Subsea 7 and Swagelining Limited have cooperated together as a successful partnership, designing and installing in excess of 150km of reeled and bundled polyethylene (PE) lined water injection flowlines in the North Sea, for a number of operators and developments.
Thomas Sunde, Subsea 7 VP Technology, commented: “Building upon a long-term strategic objective to provide more cost-effective solutions, Subsea 7 and Swagelining have a shared vision of the potential that polymer lining could have in future subsea engineering and construction projects, with a focus on extending the application of polymer lined flowlines.
“The acquisition of Swagelining Limited will enable Subsea 7 to enhance its flowline and riser technology portfolios, and supports Subsea 7’s commitment to develop and apply technologies that reduce cost, enhance production and extend field life.”
1. Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments.
2. Swagelining Limited designs and installs polymer lining systems for strategic pipeline and riser systems. The company is at the forefront of the drive to extend polymer lining technology to provide internal corrosion protection in carbon steel pipes, transporting corrosive or erosive products under high pressure.
3. Swagelining Limited employs approximately 50 people and occupies leased space at North Clydesdale Industrial Park, Glasgow.