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Velan secures $18 million offshore valve contract

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An Italian subsidiary of Velan has been awarded contracts for the supply of three different types of valve to Singapore’s MODEC Offshore Production Systems, it was announced in late July.

Scheduled for delivery by early 2019, according to a statement, the order represents a sales value of $18 million (approximately €16 million).

The contracts will see Velan supply MODEC with API 6D and API 6A valves for their new floating production storage and offloading (FPSO) MV30 Carioca vessel.

The FPSO will be deployed at the Sépia field operated by Petróleo Brasileiro located in the giant “pre-salt” region of the Santos Basin some 250 kilometres off the coast of Rio de Janeiro, Brazil at a water depth approximately 2,200 metres. It will be capable of processing 180,000 barrels of crude oil per day, 212 million standard cubic feet of gas per day, 240,000 barrels of water injection per day and has a storage capacity of 1,400,000 barrels of crude oil.

"Velan is one of the major suppliers of specialty valves to the offshore industry and these contracts prove once again our leadership in this market,” said Emanuele Rivolta, VP Sales, Upstream & Midstream at Velan.

“This is due to an unfailing commitment towards our customers’ needs and a strong, continuous drive towards innovation and a constant improvement of services.” Velan valves have now been selected and installed in over 30 offshore platforms and production vessels, numbering well over 10,000 units.”