EXPRO ANNOUNCES FIRST CONTRACT FOR ADVANCED SUBSEA TECHNOLOGY

HOUSTON – JULY 5, 2023 - Energy services provider Expro (NYSE: XPRO) has secured a contract with a major operator for the first deployment of its unique and industry-leading single shear and seal high-debris 15K ball valve assembly.

The multi-functional single shear and seal mechanism will form part of a full subsea deepwater completion/intervention system being designed by Expro for a long-standing and valued customer for a deepwater subsea field at about 6,600ft (2,000 m) in the Gulf of Mexico.

The mechanism is designed to answer the customer’s requirement for a versatile, single-valve subsea solution rather than the conventional double-valve system while offering the reassurance of risk reduction through an additional safety barrier.

The three-year contract for the in-riser system, valued at over $15 million, reinforces Expro’s stature as the leading provider of rental and customized subsea well access solutions, offering primary well control and disconnect options during well testing, completion, or intervention subsea operations.

Expro’s high-debris single ball system, which delivers shear and post shear seal on a multitude of sizes of coiled tubing, slickline, and electrical cable, is a solution for both gas and liquid. Its versatility makes it suitable for deployment in both in-riser or open water environments.

It is NACE MR0175 compliant and qualified for sour hydrogen sulfide environments. Bi-directional sealing is available even after a pump-through. The mechanism has been qualified to API 17G standard for the performance and design of subsea well intervention equipment. Its ability to handle up to 15% debris is a significant improvement over alternative mechanisms used in this environment today.

Expro’s shear and seal valve is available in the ELSA-HP 15ksi enhanced landing string assembly. It can be configured as a single valve, a single valve with a latch mechanism, or as a conventional subsea test tree arrangement, enabling flexibility. Expro is currently integrating the shear and seal ball system into its ELSA-HD 10ksi equipment and open water offerings.

Graham Cheyne, Expro’s Vice President of Subsea Well Access, said:

“We are proud to offer our innovative shear and seal solution to meet the needs of this important customer in the Gulf of Mexico. Our cutting-edge technology propels the industry’s momentum towards increased automation, improving safety on the rig floor by minimizing personnel and mitigating human error, while providing an additional safety barrier. It offers operators with flexibility for their operations in both in-riser and open water subsea applications.

“We are honored to further strengthen our long-standing partnership with this customer by consistently delivering new ways of enhancing their installation safety and efficiency, ultimately contributing to the overall advancement of the industry.”