Perma-Pipe International Holdings Announces Contract to Supply Five Miles of Subsea Insulated Pipe

Rhea-AI Summary

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has secured a contract from LLOG Exploration Offshore to supply over five miles of subsea insulation in the Gulf of Mexico's Dome Patrol Field. This contract includes engineering support, pipe coating, and insulation supply, utilizing the FLOW–THERM™ thermal insulation product, effective at temperatures up to 226 °F (108 °C). The project highlights Perma-Pipe's commitment to its customers in the Gulf of Mexico and will be executed at their New Iberia, Louisiana facility, with delivery anticipated in June 2021.

Positive

• Secured a contract from LLOG Exploration Offshore for subsea insulation supply.
• Utilization of FLOW–THERM™, a popular thermal insulation product for deepwater applications.
• Reinforces Perma-Pipe's commitment to the Gulf of Mexico market.

Negative

• None.

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced that it has been awarded a contract from LLOG Exploration Offshore to supply over five miles of subsea insulation for tiebacks in the Dome Patrol Field in the Gulf of Mexico. The contract scope awarded to Perma-Pipe covers overseeing engineering support, pipe coating, and supplying insulation for the pipelines. The project will utilize FLOW–THERM™ (formerly Auto-Therm®), a glass syntactic polyurethane (GSPU) that is Perma-Pipe's most popular thermal insulation product suitable for deepwater and temperatures up to 226 °F (108 °C).

FLOW-THERM™ is highly efficient, cost-effective, and has excellent compressive resistance when used on subsea flowlines, risers, field joints, and equipment, including jumpers, pipeline end terminations (PLETs), pipeline end manifolds (PLEMs), inline structures shrouds, and doghouses for deep and ultra-deepwater requirements.

Scott James, Sr. Vice President for Perma-Pipe’s Americas region states, "Perma-Pipe has been a long-term and valued supplier of FLOW-THERM™ to many customers and projects in the Gulf of Mexico. This latest project demonstrates our continued commitment to our customers in this market.”

David Mansfield, President and CEO commented, "Our diverse group of products have broad applications that have proven to address customer needs. We are confident in our ability to continue to provide these quality products and in serving our customers’ expectations during these challenging times.”

The project will be executed at our New Iberia, Louisiana facility with delivery expected in June 2021.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005959/en/

FAQ

What contract did Perma-Pipe International Holdings secure in 2021?

Perma-Pipe secured a contract with LLOG Exploration Offshore to supply over five miles of subsea insulation in the Gulf of Mexico.

What product will be used for the subsea insulation project by PPIH?

The project will utilize FLOW–THERM™, a glass syntactic polyurethane (GSPU) thermal insulation product.

When is the delivery for the Perma-Pipe project expected?

The delivery for the project is expected in June 2021.

Where will the project for LLOG Exploration Offshore be executed?

The project will be executed at Perma-Pipe's facility in New Iberia, Louisiana.

What are the applications of FLOW–THERM™?

FLOW–THERM™ is suitable for subsea flowlines, risers, field joints, and equipment for deepwater requirements.