Dril-Quip, Inc. has been awarded a contract valued at approximately $110 million, based on current exchange rates, to supply subsea completion systems and related services for an FPSO development project.
In accordance with the contract, Dril-Quip (Europe) Limited, a company serving the North Sea, Europe and Africa regions, will provide subsea wellhead systems, subsea production and injection tree systems, and subsea and topside control systems for the project. Delivery of these systems is expected to begin in the second half of 2015.
Dril-Quip is a leading manufacturer of highly engineered offshore drilling and production equipment, which is well suited for use in deepwater, harsh environment and severe service applications.