OneSubsea and Innovex Sign Master Service Agreement for Subsea Wellhead Technology
Innovex International (NYSE: INVX) has announced signing a strategic Frame Agreement with SLB OneSubsea for the supply of subsea wellhead systems. The agreement creates a standard framework for enhanced collaboration, aimed at accelerating the development of future business opportunities and strengthening the existing relationship between OneSubsea and Dril-Quip (now Innovex).
According to CEO Adam Anderson, this strategic partnership demonstrates Innovex's commitment to enhancing their product offerings and will enable faster delivery of integrated solutions to address the global energy sector's evolving needs.
Innovex International (NYSE: INVX) ha annunciato la firma di un Accordo Quadro strategico con SLB OneSubsea per la fornitura di sistemi di testata sottomarina. L'accordo crea un framework standard per una collaborazione migliorata, mirato ad accelerare lo sviluppo di future opportunità commerciali e a rafforzare la relazione esistente tra OneSubsea e Dril-Quip (ora Innovex).
Secondo il CEO Adam Anderson, questa partnership strategica dimostra l'impegno di Innovex nel migliorare la propria offerta di prodotti e consentirà una consegna più rapida di soluzioni integrate per affrontare le esigenze in evoluzione del settore energetico globale.
Innovex International (NYSE: INVX) ha anunciado la firma de un Acuerdo Marco estratégico con SLB OneSubsea para el suministro de sistemas de cabezal submarino. El acuerdo crea un marco estándar para una colaboración mejorada, con el objetivo de acelerar el desarrollo de futuras oportunidades comerciales y fortalecer la relación existente entre OneSubsea y Dril-Quip (ahora Innovex).
Según el CEO Adam Anderson, esta asociación estratégica demuestra el compromiso de Innovex de mejorar su oferta de productos y permitirá una entrega más rápida de soluciones integradas para abordar las necesidades cambiantes del sector energético global.
Innovex International (NYSE: INVX)는 SLB OneSubsea와 해저 웰헤드 시스템 공급을 위한 전략적 프레임 계약을 체결했다고 발표했습니다. 이 계약은 향상된 협력을 위한 표준 프레임워크를 만들며, 향후 비즈니스 기회의 개발을 가속화하고 OneSubsea와 Dril-Quip(현재 Innovex) 간의 기존 관계를 강화하는 것을 목표로 합니다.
CEO 아담 앤더슨에 따르면, 이 전략적 파트너십은 Innovex의 제품 제공을 향상시키려는 의지를 보여주며, 글로벌 에너지 부문의 변화하는 요구를 해결하기 위해 통합 솔루션을 더 빠르게 제공할 수 있게 할 것입니다.
Innovex International (NYSE: INVX) a annoncé la signature d'un Accord Cadre stratégique avec SLB OneSubsea pour la fourniture de systèmes de tête de puits sous-marin. Cet accord crée un cadre standard pour une collaboration renforcée, visant à accélérer le développement de futures opportunités commerciales et à renforcer la relation existante entre OneSubsea et Dril-Quip (désormais Innovex).
Selon le PDG Adam Anderson, ce partenariat stratégique démontre l'engagement d'Innovex à améliorer son offre de produits et permettra une livraison plus rapide de solutions intégrées pour répondre aux besoins évolutifs du secteur énergétique mondial.
Innovex International (NYSE: INVX) hat die Unterzeichnung eines strategischen Rahmenvertrags mit SLB OneSubsea zur Lieferung von Unterwasser-Wellhead-Systemen angekündigt. Der Vertrag schafft einen Standardrahmen für eine verbesserte Zusammenarbeit, die darauf abzielt, die Entwicklung zukünftiger Geschäftsmöglichkeiten zu beschleunigen und die bestehende Beziehung zwischen OneSubsea und Dril-Quip (jetzt Innovex) zu stärken.
Laut CEO Adam Anderson zeigt diese strategische Partnerschaft das Engagement von Innovex zur Verbesserung ihres Produktangebots und wird eine schnellere Lieferung integrierter Lösungen ermöglichen, um den sich entwickelnden Bedürfnissen des globalen Energiesektors gerecht zu werden.
- Strategic agreement secured with major industry player OneSubsea
- Framework established for accelerated business development
- Enhanced ability to deliver integrated subsea wellhead solutions
- None.
Insights
The Frame Agreement between Innovex and OneSubsea marks a strategic evolution in the subsea equipment market, particularly significant given OneSubsea's position as a Schlumberger company and a dominant force in subsea production systems. This collaboration represents more than a routine supply agreement - it's a strategic positioning that could substantially strengthen Innovex's competitive stance in the high-margin subsea wellhead market.
The standardization of procurement processes through this framework agreement typically leads to significant operational efficiencies, potentially reducing project lead times by 20-30% and lowering transaction costs. For Innovex, this agreement could translate into more predictable revenue streams and enhanced market share in the subsea sector, where individual wellhead systems can command prices in the six to seven-figure range.
The timing is particularly strategic, coinciding with the broader industry trend toward integrated subsea solutions and the increasing demand for deepwater development projects. This agreement positions Innovex to capitalize on the projected growth in subsea tree awards, expected to exceed 300 units annually in the coming years - a market valued at several billion dollars.
From a competitive perspective, this partnership strengthens Innovex's position against major players like Baker Hughes and TechnipFMC in the subsea equipment market. The formalization of the relationship with OneSubsea could lead to preferential supplier status for future projects, potentially creating a more robust and predictable order book for Innovex's subsea business segment.
OneSubsea and Innovex Sign Master Service Agreement for Subsea Wellhead Technology (Photo: Business Wire)
This agreement establishes a standard framework for enhanced collaboration, paving the way for faster development of future business opportunities, strengthening the long-standing relationship between OneSubsea and Dril-Quip (now Innovex).
“This strategic agreement with OneSubsea underscores our commitment to continuously enhance and optimize our product offerings for our customers,” said Adam Anderson, CEO of Innovex. “This collaboration further deepens our relationship with OneSubsea, enabling us to deliver integrated solutions, faster, addressing the evolving needs of the global energy sector. We are excited about the tremendous opportunities this agreement brings and are eager to provide enhanced value across the industry.”
About Innovex International
Innovex International, Inc (NYSE: INVX) is a
Our comprehensive portfolio extends throughout the lifecycle of the well; and innovative product integration ensures seamless transitions from one well phase to the next, driving efficiency, lowering cost, and reducing the rig site service footprint for the customer.
With locations throughout
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the performance and benefits of the Company's products. Forward-looking statements are based upon certain assumptions and analyses made by the Company in light of its experience and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, operating risks and other factors detailed in the Company's public filings with the Securities and Exchange Commission. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual outcomes may vary materially from those indicated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250221422830/en/
Investor Relations:
Avinash Cuddapah, Senior Director of Investor Relations
avinash.cuddapah@innovex-inc.com
Media Relations:
Nichola Alexander, Senior Director of Marketing
nichola.alexander@innovex-inc.com
Source: Innovex Downhole Solutions, Inc.
FAQ
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