Valmet And Foster Wheeler Petroleum To Cooperate On Offshore Projects

Valmet Corporation in Finland and the engineering and consulting firm Foster Wheeler Petroleum Development Limited in the U.K. have signed an agreement calling for technical cooperation with respect to offshore projects.

The pact is part of Valmet's arctic offshore strategy, and a big step to prepare itself for the expected changes in the Soviet demand. With this agreement, the Finnish company will have access to the latest technology, as Foster Wheeler Petroleum Development is one of the leaders in this field.

Cooperation between the two companies, as well as the development program in the Valmet Helsinki Shipyard, will enable Valmet Corporation to participate in the construction of platforms, topside structures, and modules.

Foster Wheeler Petroleum Development, with headquarters in London, employs more than 500 permanent offshore personnel who have extensive experience in the design, engineering, and construction of large modules, for both the U.K.

and Norwegian sectors of the North Sea.

Last year Valmet formed a new affiliate, Intec Engineering Inc., in Houston, whose principal business is the design and engineering of pipelines, pipelaying projects, deepwater technology, and floating production.

This company is currently participating in the first arctic pipelaying project in North America.

Maritime Reporter Magazine, page 18, Mar 1985

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.