Dril-Quip to set up research facility in Singapore
Dril-quip, the Houston-based designer and manufacturer of offshore drilling and production equipment, is establishing a $15 million research and development facility in Singapore.
The company said February 11 that the new facility, focusing on materials and products suitable for high pressure and high temperature (HPHT) applications, is expected to open in 2017.
Blake DeBerry, president and CEO, said: “Dril-Quip already has a significant presence in Singapore and this R&D facility will allow us to leverage that presence and take advantage of Singapore’s exceptional workforce. This facility will further enhance our product development capabilities and continue Dril-Quip’s tradition of technology leadership.”
Lim Kok Kiang, assistant managing director, Singapore Economic Development Board (EDB), said: “Despite the challenging macroeconomic environment, we are delighted to have Dril-Quip establish its new R&D center here, which will be the Company’s first R&D center outside the Americas. Dril-Quip’s investment attests to Singapore’s capabilities in R&D. Our engineering capabilities as well as strong manufacturing core make us an attractive location in Asia for leading oil and gas equipment companies.”
Dril-Quip further said that the facility would also serve as an additional hub for research and development activities for the company.