An affiliate of Dril-Quip Inc. (NYSE: DRQ) said Feb. 22 it has been awarded a contract to supply top tensioned riser (TTR) systems and related services for the development of the Ca Rong Do Project.
The project is located offshore Vietnam and operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam.
Dril-Quip Asia Pacific Pte Ltd. will provide a drilling TTR system and multiple TTR systems for the production, gas injection and water injection wells.
The systems will include tie back connectors, tapered stress joints, riser joints, riser connectors, keel joints, tensioner joints, spool joints, flexible jumpers, surface wellheads, surface trees, control umbilicals and tensioner systems.
However, oil and gas faces stiff competition in attracting top STEM talent from other sectors since 77% of future workforce expressed interest in the technology industry.
Once managed individually by energy producers, the job of supplying, collecting and disposing of water is a rising cost, and has spawned a $34 billion a year business in the U.S. that has lured investors.
Deals with Schlumberger and Baker Hughes are worth $2.47 billion.