French oil services giant Technip has taken a minority stake in an offshore welding subsidiary of tubular steel firm, Vallourec.
The deal between Technip and Serimax will see the two firms forge a strategic partnership in pipeline welding.
The companies will deploy the Serimax welding technology at Technip spoolbases and lay vessels.
Serimax will remain an independent service and technology provider, and will continue to serve its clients in the offshore, onshore pipeline and fabrication markets, the companies said.
Frederic Castrec, Managing Director for Serimax said: “Together, we can combine our respective areas of expertise to develop an integrated technical and commercial solution.”
Hallvard Hasselknippe, president subsea, Technip said: “Serimax is recognised for its experience in major international line pipe projects, with a reputation for quality, service and innovation and a strong commitment to R&D. “Combining our domains of expertise, we believe that Serimax’s deployment on our spoolbases and S-lay vessels will enable us to offer to our clients a harmonized solution with greater operational repeatability.”
Didier Hornet, Senior Vice President Eastern Hemisphere, who is responsible for Vallourec’s oil and gas strategy, said: “Technip and Serimax have a longstanding relationship and this is a strategic move we have endorsed, in keeping with optimising on the strengths of the organisations.
“We are confident that combining both company’s technologies will make a real difference to the market and offers greater opportunities to think differently about how we package solutions for clients. Delivering solutions to the oil and gas market require companies that are agile and capable of growing together to meet market expectations.”
In July last year Technip revealed plans to cut 6,000 jobs from its global workforce of 38,000.