August 15, 2016

Cooperation agreement with Pressure Dynamics Int. (Perth)

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Hitec Products based in Stavanger, Norway and Pressure Dynamics International based in Perth, Australia have announced a cooperation agreement.

The agreement covers the design, manufacture, supply, installation, commissioning and life-cycle servicing of major electro-hydraulic and chemical injection systems for subsea well control and offshore facilities (Platforms, Rigs, FPSOs, FLNG). The companies shall effect technology, systems and process transfers and share resources in delivering continuous improvements respectively and mutually, and for their customers.

Tor Atle Deisz, CEO of Hitec Products explained that this agreement will leverage on the combined expertise of both companies in delivering these services – “We now have very strong representation both near our primary OEM customers, some of whom are in Norway like us, and also the end users of these products whether they be based in Europe, South East Asia or Australia. By combining the capabilities and experience of two market-leaders for the Oil & Gas industry we will be able to provide innovations and a best-in-class, competitive service during the design and build phase with continuity of quality services through the installation and commissioning, and operational support phases.”

Stephen Harris, CEO of Pressure Dynamics said that “… cooperation between the companies is a natural progression as we have very compatible values and goals and there are many synergies from this arrangement. Everyone will win as it allows us to seamlessly deliver a broader scope of services to our customers regionally and globally at a lower cost throughout both project and asset life cycles. We are focussed on delivering maximum value to our customers, who shall benefit from dealing with a much stronger group with greater resources and expertise than either of us acting alone.”