Oil & Gas

Pipeline Technique signs deal with Subsea7

Pipeline Technique has entered into a long-term agreement with Subsea7 for the provision of welding and coating services.

The two firms have a history of working together with Pipeline Technique’s (PTL) chief executive, Frederic Castrec, saying: “PTL’s close working relationship with Subsea7 spans several years, and this collaboration agreement forms the basis for its long-term continuation.”

The services deal has been agreed upon for an undisclosed sum.

Chief operating officer at Pipeline Technique, Ben Mackay, said: “By offering predictability, we can provide Subsea7 with a robust foundation for long-term planning and enhanced project performance.

“We look forward to contributing to more efficient operations benefitting both parties.”

The welding and coating solutions company is based in Inverurie and earlier this year it acquired a trio of firms from Stanley Black & Decker.

These companies were CRC-Evans, Pipeline Induction Heat (PIH), and Stanley Inspection (including MicroAlloying, part of Stanley Inspection).

At the time of these acquisitions, the Aberdeenshire-based PTL‘s revenue increased threefold, bringing the company’s figures beyond $200 million and its headcount more than doubled, growing from 350 employees on the payroll to over 1000.

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