Expro Celebrates 40 Years of Subsea Success

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Expro (NYSE: XPRO) celebrates 40 years of leading the subsea test tree sector with technical innovations. From the launch of its first subsea test tree system in 1983 to the recent acquisition of PRT Offshore, Expro has remained at the forefront of subsea landing string technology, undertaking more than 3,000 subsea deployments. The company's dedication to subsea well access applications has recently led to being named Intervention Champion of the Year at the OWI Global Awards 2023.

Leading the subsea test tree sector with technical innovations since 1983

HOUSTON--(BUSINESS WIRE)-- Leading energy services provider Expro (NYSE: XPRO) is celebrating 40 years of successfully leading the way in the subsea sector since the launch of its first subsea test tree system in the North Sea in 1983.

Expro Celebrates 40 Years of Subsea Success (Graphic: Business Wire)

From the creation of its first 10ksi subsea test tree assembly (SSTTA) for an exploration and appraisal well project for Hamilton Brothers in the North Sea in 1983, to the development of its industry-leading high debris 15K shear and seal ball valve technology in 2023, Expro has remained at the forefront of subsea landing string technology.

Several of its SSTTA technologies have been on a first to market basis and instrumental in advancing the sector’s capabilities over the years. Expro has undertaken more than 3,000 subsea deployments in exploration and appraisal, completion, and intervention applications, and remains a global leader in large-bore SSTTA solutions.

Alongside the development of the 3” 10ksi SSTA in 1983, some of the other subsea well access major milestones for Expro in delivering ground-breaking technologies over 40 years include:

• 1995 – introduction of the first 7 ⅜” 10ksi horizontal tree completion landing string system, which supported the growth of the horizontal tree market, in the Norwegian North Sea
• 1999 - launch of the industry’s first 6 ¾” high debris SSTTA system, in the Norwegian North Sea
• 2003 – launch of the first large bore 6 ¾” 10ksi subsea electro hydraulic control system, in the Gulf of Mexico
• 2005 – first 6 ¾” 10ksi dual bore and mono-bore subsea test tree offshore North Sea and Angola
• 2007 – first 15ksi 6 ⅛” horizontal tree SSTTA and electro-hydraulic control system in the Gulf of Mexico
• 2017 - development of 7 ⅜” 10ksi high debris SSTTA

The evolution of subsea test tree assemblies has allowed Expro to expand into the open water well intervention market through the introduction of both riser-based and riser-less well intervention solutions.

Expro’s dedication to subsea well access application has recently led to the company being named Intervention Champion of the Year at the OWI Global Awards 2023.

Expro’s subsea capabilities have been boosted by the recent acquisition of offshore services provider PRT Offshore, the only company to offer a complete Hook-to-Hanger™ solution enabling comprehensive well completions, interventions, and decommissioning services from surface to subsea. The acquisition enables Expro to expand its portfolio of cost-effective, technology-enabled services in the North and Latin America (NLA) region and accelerate the growth of PRT Offshore’s surface equipment offering into the Europe and Sub-Saharan Africa (ESSA) and Asia Pacific (APAC) regions.

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

“At Expro, we’ve been first to the market with many of our subsea test tree assembly products and, as future technical challenges arise, we believe that with our customer-bespoke solution philosophy, we’ll continue to be at the top of the subsea test tree application.

“From starting in 1983 supporting operators in the Norwegian North Sea, we’ve become a global player in all parts of the world, supplying fully integrated technologies and services from surface to seabed – the hook to hangar concept. The subsea test tree market operates in the full well lifecycle – from exploration and appraisal through to abandonment and decommissioning while continually looking to improve our delivery and operational performance, and service quality to our global client base.

“Whilst leading in this market for over 40 years with many first to market technologies we are committed to delivering the new technology requirements of tomorrow in order to meet our customer needs whilst maintaining the high level of service quality and customer care.”

NOTES TO EDITORS:

About 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 8,000 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: expro.com and connect with Expro on X (formerly 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, the success of the PRT Offshore acquisition, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240103146644/en/

MediaRelations@expro.com

Source: Expro

FAQ

What is Expro's ticker symbol?

Expro's ticker symbol is XPRO on the NYSE.

What are some of Expro's major milestones in subsea technology development?

Expro's major milestones include the creation of its first 10ksi subsea test tree assembly in 1983, the introduction of the first 7 ⅜” 10ksi horizontal tree completion landing string system in 1995, and the recent acquisition of PRT Offshore.

What recent recognition has Expro received for its subsea capabilities?

Expro was named Intervention Champion of the Year at the OWI Global Awards 2023 for its dedication to subsea well access applications.

What was the impact of Expro's recent acquisition of PRT Offshore?

The acquisition of PRT Offshore has enabled Expro to expand its portfolio of cost-effective, technology-enabled services in the North and Latin America (NLA) region and accelerate the growth of PRT Offshore’s surface equipment offering into the Europe and Sub-Saharan Africa (ESSA) and Asia Pacific (APAC) regions.

What is Expro's Vice President of Subsea Well Access, Graham Cheyne's perspective on the company's achievements?

Graham Cheyne believes that Expro has been first to the market with many of its subsea test tree assembly products and will continue to be at the top of the subsea test tree application, committed to delivering the new technology requirements of tomorrow.