TORONTO, June 11, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) today announced that its pipe coating division has entered into contracts with an international EPC contractor to provide coating services for the following offshore pipeline projects:
- Petrobrasâ Mero in Brazil
- ConocoPhillipsâ Tor 2 in Norway
- BPâs Atlantis in the Gulf of Mexico
- Energeanâs Karish in the Mediterranean Sea
- Shellâs Powernap in the Gulf of Mexico
- Equinorâs P1 and Duva in Norway
These projects will be executed within Shawcorâs network of coating facilities, including Serra in Brazil, Orkanger in Norway and Channelview in the United States during 2019-2020. Coating work under these contracts is valued at approximately CAD$65 million.
Shawcor Ltd. is a global energy services company specializing in products and services for the pipeline and pipe services segment of the oil and gas industry and related products for the petrochemical and industrial market. The Company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in its industry.
This news release contains forward-looking information within the meaning of applicable securities laws. Words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “predict”, “estimate” or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company’s experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
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Senior Vice President, Finance and CFO