Conoco and Aker Kvaerner To Establish DeepWater Composites

Tuesday, June 18, 2002
Conoco and Aker Kvaerner, part of Kvaerner, the international oil services, engineering and construction, pulp and paper and shipbuilding group, announced the establishment of a new company, DeepWater Composites AS, that will manufacture and sell composite products for use in the deepwater exploration and field development segments of the oil and gas industry. Conoco and Aker Kvaerner will each hold 50-percent interest in Deepwater Composites AS. Conoco and Aker Kvaerner have co-operated under a technology alliance since 1995 to develop, test and qualify two carbon fiber composite products that provide a technological and economic breakthrough to facilitate the exploitation of oil reserves in deep water. The products, CompRiser(TM), a composite riser suitable for all top-tensioned riser applications on drilling rigs and floating production platforms and CompTether(TM), a composite tether for mooring tension leg platforms (TLPs), provide significant cost and weight savings in deepwater applications. Speaking about the announcement, Raymond Carlsen, President for Kvaerner Oilfield Products, a subsidiary of Aker Kvaerner, said: "The decision to commercialize these products marks the start of a new and exciting phase for establishing composite products in the offshore market. This builds on the success of the joint development program that culminated with a full field test of a composite drilling riser on the Heidrun TLP in the Norwegian Sea. The offshore industry has recognized the need for lighter and more cost-effective solutions for deepwater field development and for deepwater drilling, and we believe these products will play a significant role."
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

3Si Group Launches Offshore Division

3Si Group, whose global portfolio of marine safety products and services covers commercial, leisure and military markets, has announced the formation of 3Si Offshore,

Rosneft, Gazprom to Receive Four Arctic Fields

Ministry of the Environment sent to the government documents on the transfer of "Rosneft" and "Gazprom" licenses for the development of four more fields on the Arctic shelf,

Edelweiss Now Controls Bharati Shipyard

Edelweiss Asset Reconstruction Company has taken over management control of Bharati Shipyard, says a report in ET.   Edelweiss now controls 70% of the Indian yard’s debts.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3137 sec (3 req/sec)