ChampionX has secured two contracts on April 8 worth a combined £2.8 million (US$3.9 USD), to deliver its next generation, non-toxic chemicals to two major North Sea operators.
The company’s environmentally acceptable corrosion inhibitor product line has been developed to enable E&P organizations to economically extend the life of their assets in a sustainable way, without sacrificing efficiency.
Corrosion inhibitor chemicals are widely used as a preventative measure in pipeline systems and are deployed from wellheads to processing facilities and export lines. This infrastructure is typically made of carbon steel and exposed to dissolved acidic components such as CO2 and organic acids in the presence of water, which creates a continuous threat of corrosion.
ChampionX’s latest range of environmentally acceptable corrosion inhibitors meet the strict North Sea environmental regulations and use active components that are biodegradable, making them non-toxic to marine life. The chemicals deliver an effective preventative corrosion method while ensuring assets can operate safely for years to come, with a reduced environmental impact.
The global chemistry solutions and technologies company has seen, through a successful field trial, its new inhibitor deployed to help avoid production deferment on a major UKCS operator’s platform in the North Sea. The second client’s supply will be used at its FPSO vessel from second-quarter next year.
ChampionX’s new, non-toxic corrosion inhibitor portfolio, which is the result of a robust four-year research and development program, was created at the company’s technology center in Aberdeen, and is specifically suited to the harsh and severe corrosion environment of the North Sea.
“We recognized the value in developing a more environmentally acceptable solution, with the goal of enabling our customers to prolong the life of assets and maximize recovery without sacrificing on efficiency. The non-toxic, biodegradable corrosion inhibitor is a more sustainable option to traditional chemicals, producing a more environmentally acceptable solution,” Susan Hart, ChampionX general manager Europe, Middle East & North Africa, said.
This latest ChampionX corrosion inhibitor development has met the requisite high environmental standards set by the Centre for Environment, Fisheries and Aquaculture Science (CEFAS).
The acquisitions of Vega Energy Partners and WGL Midstream follow the sale of AltaGas’ U.S. transportation and storage business to an entity owned by 61C Global and Vega for roughly $275 million on April 23.
Tailwater Capital’s premise is that demand for affordable, reliable energy isn’t going anywhere. The private equity firm’s deals are designed to help supply it.
The recently announced agreement by Pioneer Natural Resources to acquire DoublePoint Energy, with multiple private equity sponsors, also adds further indications of a shift toward private upstream activity, analyst says.