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Curtiss-Wright Signs an Exclusive Cooperation Agreement with Saipem for Subsea Pump Technology

July 12, 2018

DAVIDSON, N.C.--(BUSINESS WIRE)--Jul 12, 2018--Curtiss-Wright Corporation (NYSE: CW) today announced that it has signed an Exclusive Cooperation Agreement with Saipem for barrier fluid-less subsea pump technology for water treatment and injection applications.

The development of the barrier fluid-less pump is a derivative technology application of Curtiss-Wright’s internationally recognized commercial nuclear expertise whose hallmarks are high reliability and maintenance-free equipment designs.

To qualify this new technology, Curtiss-Wright and Saipem will develop, build, and test a full-scale prototype of a barrier fluid-less pump. This pump is a cornerstone of the all-electric strategy to replace conventional hydraulic umbilicals with power/control cables in subsea processing applications. This technology will be beneficial for SPRINGS®, the subsea desulfation technology co-owned by Saipem, Total and Veolia, as well as for Saipem’s proprietary subsea processing technologies as a whole.

“We are very excited that the agreement with Saipem will allow Curtiss-Wright to bring its advanced motor technology to the subsea oil and gas market with a world-class integrator,” said David C. Adams, Chairman and CEO of Curtiss-Wright Corporation. “By leveraging decades of experience in supplying equipment for some of the most demanding applications, the barrier fluid-less solution will provide significantly reduced support infrastructure needs and a step-change in subsea motor and pump reliability.”

Stefano Porcari, COO of Saipem’s E&C Offshore Division, commented: “The strategic partnership with Curtiss-Wright marks a fundamental milestone for the technology development program Saipem has in place in order to become a key player in the Subsea Processing Market. Reliability, innovative design and a relentless focus on quality are the pillars of such a journey towards the next frontiers of subsea oil development. Today, we set the basis for a successful inception of our product and service portfolio within the Subsea Processing Market.”

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that delivers highly engineered, critical function products and services to the commercial, industrial, defense and energy markets. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing reliable solutions through trusted customer relationships. The company employs approximately 8,600 people worldwide. For more information, visit www.curtisswright.com.

About Saipem

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content. For more information on Saipem SPRINGS® technology, visit, http://www.saipem.com/sites/SAIPEM_en_IT/scheda/springs.page

View source version on businesswire.com:https://www.businesswire.com/news/home/20180712005448/en/

CONTACT: Curtiss-Wright Corporation

Jim Ryan, 704-869-4621

jim.ryan@curtisswright.com

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA

INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING OTHER MANUFACTURING NUCLEAR

SOURCE: Curtiss-Wright Corporation

Copyright Business Wire 2018.

PUB: 07/12/2018 09:00 AM/DISC: 07/12/2018 09:01 AM

http://www.businesswire.com/news/home/20180712005448/en

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