Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces the acquisition of Swagelining Limited, the subsea industry's leading polymer lining technologist, to further expand existing polymer pipeline technology interests.
Subsea 7 and Swagelining Limited have cooperated together as a successful partnership, designing and installing in excess of 150km of reeled and bundled polyethylene (PE) lined water injection flowlines in the North Sea, for a number of operators and developments.
Thomas Sunde, Subsea 7 VP Technology, commented: "Building upon a long-term strategic objective to provide more cost-effective solutions, Subsea 7 and Swagelining have a shared vision of the potential that polymer lining could have in future subsea engineering and construction projects, with a focus on extending the application of polymer lined flowlines.
"The acquisition of Swagelining Limited will enable Subsea 7 to enhance its flowline and riser technology portfolios, and supports Subsea 7's commitment to develop and apply technologies that reduce cost, enhance production and extend field life."
