Expro Announces First Contract for Advanced Subsea Technology

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07/05/2023 - 04:00 AM

Innovative single shear and seal bi-directional valve supports well safety and helps to reduce costs

HOUSTON--(BUSINESS WIRE)-- Energy services provider Expro (NYSE: XPRO) has secured a contract with a major operator for the first deployment of its unique and industry-leading single shear and seal high-debris 15K ball valve assembly.

Expro's Innovative single shear and seal bi-directional valve supports well safety and helps to reduce costs (Photo: Business Wire)

The multi-functional single shear and seal mechanism will form part of a full subsea deepwater completion/intervention system being designed by Expro for a long-standing and valued customer for a deepwater subsea field at about 6,600ft (2,000 m) in the Gulf of Mexico.

The mechanism is designed to answer the customer’s requirement for a versatile, single-valve subsea solution rather than the conventional double-valve system while offering the reassurance of risk reduction through an additional safety barrier.

The three-year contract for the in-riser system, valued at over $15 million, reinforces Expro’s stature as the leading provider of rental and customized subsea well access solutions, offering primary well control and disconnect options during well testing, completion, or intervention subsea operations.

Expro’s high-debris single ball system, which delivers shear and post shear seal on a multitude of sizes of coiled tubing, slickline, and electrical cable, is a solution for both gas and liquid. Its versatility makes it suitable for deployment in both in-riser or open water environments.

It is NACE MR0175 compliant and qualified for sour hydrogen sulfide environments. Bi-directional sealing is available even after a pump-through. The mechanism has been qualified to API 17G standard for the performance and design of subsea well intervention equipment. Its ability to handle up to 15% debris is a significant improvement over alternative mechanisms used in this environment today.

Expro’s shear and seal valve is available in the ELSA-HP 15ksi enhanced landing string assembly. It can be configured as a single valve, a single valve with a latch mechanism, or as a conventional subsea test tree arrangement, enabling flexibility. Expro is currently integrating the shear and seal ball system into its ELSA-HD 10ksi equipment and open water offerings.

Graham Cheyne, Expro’s Vice President of Subsea Well Access, said:

“We are proud to offer our innovative shear and seal solution to meet the needs of this important customer in the Gulf of Mexico. Our cutting-edge technology propels the industry’s momentum towards increased automation, improving safety on the rig floor by minimizing personnel and mitigating human error, while providing an additional safety barrier. It offers operators with flexibility for their operations in both in-riser and open water subsea applications.

“We are honored to further strengthen our long-standing partnership with this customer by consistently delivering new ways of enhancing their installation safety and efficiency, ultimately contributing to the overall advancement of the industry.”

Notes to Editors:

Expro

Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has approximately 7,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.

For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s delivery of safe, reliable and secure subsea well access technology, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.