Dril-Quip, manufacturer of drilling and production equipment for the use onshore and offshore, and controls technology company Proserv Group have announced an agreement under which Dril-Quip will rely upon Proserv for the development and manufacturing of its subsea control systems as a supplier
The arrangement follows a strategic decision by Dril-Quip to consolidate the supply and development of control systems with a dedicated subsea controls provider.
The agreement establishes a framework within which Proserv and Dril-Quip can pursue joint marketing and collaborative efforts, with Dril-Quip providing subsea trees and Proserv providing subsea controls.
Blake DeBerry, Dril-Quip’s CEO, commented, “Our collaboration will provide significant benefits to our customers in the subsea production system market and allows access to complementary award-winning subsea technologies at competitive pricing.
“This agreement aligns the interests of both companies in leveraging their respective technical and engineering expertise to deliver high-quality subsea trees and controls that will save customers time and money, all while enhancing the execution of their offshore projects. We look forward to engaging with Proserv and our customers with these expanded offerings.”
Davis Larssen, Proserv Controls CEO, stated, “While Proserv will continue to operate independently, Proserv will support Dril-Quip with the supply of subsea controls to Dril-Quip’s overall subsea offering, including fully integrated solutions that provide customers access to best-in-class systems and service.”
David Currie, Proserv Group CEO, said, “Following our restructuring in 2019 and the creation of two focused divisions, this agreement reflects the next logical stage for the Proserv Controls business as it continues to focus on the core strengths of technology and innovative partnering for customer success, as evident here with Dril-Quip, as the only truly independent and focused controls provider in an industry that looks to new solutions going forward.”
