Shawcor closing in on North Sea contract

Canada-based energy services company Shawcor has announced a conditional contract award for the supply of a wet insulation coating system for a project in the North Sea.

Illustration (Courtesy of Shawcor)
Illustration (Courtesy of Shawcor)

Pending project sanctioning, the company’s pipe coating division will supply wet insulation coating system using its proprietary ULTRA technology for an undisclosed development project.

The conditional award was secured following a technology development program to extend Shawcor’s ULTRA platform.

The value of the award is in the range of C$40-$45 million (€27-30 million), pending final investment decision which is expected to be made in the third quarter of 2021, Shawcor said.

The work is expected to be executed from Shawcor’s Okanger facility in Norway, starting in the third quarter of 2022, the company informed.