Matrix to deliver riser buoyancy system for newbuild Asian deepwater floating rig

Matrix Composites & Engineering has secured a purchase order from Himile Mechanical Manufacturing for the supply of a deepwater drilling riser buoyancy system.

Under the A$14 million (around $10 million) contract, Matrix will develop riser buoyancy modules and a riser protection system to support a newbuild deepwater floating rig project in Asia.

All equipment will be built at the company’s composites production facility in Henderson, Western Australia, with completion and shipping of all modules expected during the third quarter of 2023.

The formal award of the purchase order, said to be Matrix’s largest since November 2018, follows the Letter of Intent (LoI) signed in December 2021 with HMH USA for the works package.

“This award demonstrates Matrix’s ability to capitalise on increased activity in the subsea segment of the Buoyancy and SURF market,” said Matrix CEO Aaron Begley.

“Whilst we have seen the award of several key projects under tender in this market be delayed due to short-term logistics disruptions among major oil and gas project proponents internationally, we are well positioned to secure and successfully execute on these orders as they now arise.”

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