Technip enters strategic pipeline welding partnership with Vallourec subsidiary

PARIS -- Technip and Serimax, a subsidiary of Vallourec, have signed an agreement in principle in order to achieve a strategic partnership in the domain of pipeline welding. In this respect, Technip, a long-lasting customer of Serimax, would acquire a minority stake in Serimax. 

Technip and Serimax will combine their expertise and will deploy the Serimax welding technology at Technip's spoolbases and S-lay vessels.

This will allow both partners to offer high-end competitive capabilities to address operators' capital investment constraints for future projects; invest in joint R&D programs and innovative reel-lay welding solutions to meet the growing technical challenges of projects; and increase operational performance through enhanced productivity, improved scheduling and higher integration of the value chain.

This strategic partnership, which is subject to regulatory approvals, will include exclusive arrangements in the Reel-lay welding pipeline segment as well as R&D-related programs.

Serimax will remain an independent service and technology provider, and will continue to serve its clients in the offshore, onshore pipeline and fabrication markets.

"We are delighted Technip has the confidence in and has selected Serimax, to further support their future project developments,” Frederic Castrec, managing director for Serimax, said. “It is a clear recognition of Serimax's capability. Together, we can combine our respective areas of expertise to develop an integrated technical and commercial solution."

"Combining our domains of expertise, we believe that Serimax's deployment on our spoolbases and S-lay vessels will enable us to offer to our clients a harmonized solution with greater operational repeatability,” Hallvard Hasselknippe, president, Subsea, Technip, said. “This partnership is part of Technip's strategic focus on technology, a key differentiator to contribute to costs optimization on projects."