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Dril-Quip enters subsea production systems deal for Sea Lion project

Published 07/13/2018, 11:52 AM
© Reuters.  Dril-Quip enters subsea production systems deal for Sea Lion project
DRQ
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  • Dril-Quip (DRQ +4.6%) shoots higher after saying it plans to provide subsea production systems to Premier Oil (OTCPK:PMOIF) for the Sea Lion phase 1 development off the Falkland Islands.
  • DRQ says the scope of work includes plans for 23 subsea production systems, including wellheads, trees, control systems, associated production and injection manifolds, subsea umbilicals and related services.
  • DRQ would begin pre-sanction engineering work in August, but says a formal contract award is subject to agreement of a definitive contract and Premier taking a final investment decision.
  • Now read: AFGlobal Starts U.S. IPO Effort


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