Shawcor (TSX: SCL) receives a three-year contract for the application of LotusFlo technology

• Shawcor (SCL) has received a three year contract for application of LotusFlo® technology
• LotusFlo is an innovative diamond-like carbon coating technology that offers an advanced level of flow assurance for the oil and gas industry
• Shawcor expects to increase the current orders for this technology to a range of $18M-$25M as a result of this award
• Shawcor is a growth-oriented, global material sciences company serving the infrastructure, energy, and transportation markets
• Shawcor (SCL) is down 1.6 per cent, trading at $5.91 at 11:30 AM EST

Shawcor (SCL) has received a three-year contract for the application of unique LotusFlo® technology.

Shawcor’s pipe coating division has been awarded the contract with Vallourec S.A. The aim is to apply the  LotusFlo technology to offshore downhole production tubular designed for the Buzios oilfields.

The contract is the result of an extensive qualification program with Petrobras, one of the world’s largest oil and gas producers, and Vallourec, a worldwide premium tubular solutions provider.

“Using LotusFlo in Petrobras’ Buzios oilfields represents the single largest implementation of this transformative technology to date,” commented Kevin Reizer, President of Shawcor’s Pipeline Performance Division.

Shawcor expects to increase the current orders for this technology to a range of $18M-$25M as a result of this award.   

Shawcor’s Channelview facility will execute the work. It is expected to begin during the fourth quarter of 2022 and to continue over a multi-year period on an as-needed basis.

LotusFlo: Hydrophobic internal coating

LotusFlo is an innovative diamond-like carbon coating technology that offers an advanced level of flow assurance for the oil and gas industry.

LotusFlo is currently operating in the Gulf of Mexico and the North Sea in addition to this new application for pre-salt Brazil.  

Shawcor is the exclusive license holder and sole provider of this technology for applications to oil country tubular goods, in-well components, pipelines, flowlines and risers in the global oil and gas industry.

Shawcor is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets.

Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

Shawcor (SCL) is down 1.6 per cent, trading at $5.91 at 11:30 AM EST.