TORONTO, June 28, 2013 /PRNewswire/ - ShawCor Ltd. (TSX: SCL) today announced its pipe coating division, Bredero Shaw, has received a contract with a value of approximately US$30 million from Statoil Norway to provide pipeline coatings for the Edvard Grieg Oil Pipeline project and the Utsira High Gas Pipeline project. These pipelines will transport oil and gas from the Edvard Grieg and Ivar Aasen fields. The gas will be transported to St. Fergus through a tie in of the Utsira High Gas Pipeline to the Sage system and the oil will be transported to Sture, Norway, through a tie in of the Edvard Grieg Oil Pipeline to the existing Grane Oil Pipeline. The Edvard Grieg field (formerly Luno) is located in the Utsira High area of the Norwegian North Sea. The contract will be executed at the Bredero Shaw pipe coating facility in Leith, Scotland.
This contract involves coating approximately 98km of 16" pipe and 46km of 29" pipe with 3-layer polypropylene anticorrosion coating, internal flow efficiency coating and concrete weight coating. Coating will commence during the fourth quarter of 2013.
ShawCor Ltd is an energy services company specializing in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. The company operates through eight divisions with over seventy-five manufacturing and service facilities located around the world.Bredero Shaw, ShawCor's largest division, is the global leader in pipe coating solutions and employs over 4,000 permanent and contract personnel located at offices and facilities in fifteen countries. The division provides specialized coating systems and related services for corrosion protection, insulation and weight coating applications on land and marine pipelines including highly engineered corrosion and insulation systems for deepwater applications.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV