Furmanite Awarded Global Pipeline Intervention Contract
HOUSTON, TEXAS (July 2, 2012) – Furmanite Corporation (NYSE: FRM),one of the world’s largest providers of Process Intervention Services, today announced that it has been awarded one of BP’s four global Isolation and Intervention contracts. Representatives of BP stated, “This contract marks a significant achievement as the culmination of work with supplier engagement and evaluations. Safe isolations are important across BP’s operations for works such as valve replacement and for plant/platform shutdowns. All of the Suppliers have committed to a program of continuous improvement and developing best practices leading to industry guidelines.”
Furmanite is an original equipment manufacturer (OEM) of the IPSCO-Furmanite brand of Process Intervention (commonly referred to as Hot Tapping and Line Stopping) equipment and custom fittings. Furmanite provides worldwide field service with a broad network of Service Delivery Centers located throughout six continents.
“This contract represents the culmination of a two-year process which required the engagement of our global team of experts working closely with BP towards a common goal of setting new standards in the industry which focuses on a process that results in consistent, first-time, deployment success,” said Chad Murray, Executive Vice President of Furmanite’s Global Service Lines.
“We are excited about the opportunities that this contract represents not only for Furmanite, but also for the process improvement potential it represents for the industries that we serve. We are committed to delivering perfect products and services to our clients and BP’s approach to this process, which focused on safety and quality, makes our selection even more rewarding,” concluded Murray.