HOUSTON, June 13, 2016 /PRNewswire/ -- Diamond
Offshore Drilling, Inc. (NYSE: DO) and Trelleborg's offshore
operation today announced a Joint Development Agreement to develop,
manufacture and market Helical Buoyancyâ„¢ riser technology developed
by Diamond Offshore. This innovative, patented riser buoyancy
design reduces riser drag and mitigates Vortex-Induced Vibration in
offshore applications and enables improved operational
efficiency.
This solution is an alternative to adding fairings or strakes to
the drilling riser and can reduce deployment time and operating
expense. The Helical Buoyancy design also improves safety in
challenging environments by eliminating the need for personnel to
work below the drill floor to attach a separate apparatus.
The "helical" design is the result of several years of
development by Diamond Offshore utilizing Computational Fluid
Dynamics and high Reynolds Number Wind Tunnel testing. Diamond
Offshore will work with Trelleborg on further application
engineering, data acquisition, testing and development of Helical
Buoyancy applications across the offshore drilling market.
"Development of this new technology for riser buoyancy is even
more important as drilling moves into deeper waters," said
Ron Woll, Senior Vice President and
Chief Commercial Officer of Diamond Offshore. "We continually look
for ways to improve the economics of offshore drilling for our
customers, and this new buoyancy design will enhance drilling
efficiencies in high-current environments."
"At Trelleborg, our goal is to perform at every level to deliver
innovative and reliable offshore solutions and we welcome this
opportunity to team up with Diamond Offshore on this exciting
venture," says Alan McBride, Vice
President at Trelleborg's offshore operation in
Houston.
In conjunction with this agreement, Diamond Offshore has ordered
Helical Buoyancy from Trelleborg for drilling risers on the
Ocean BlackRhino and Ocean BlackLion, two of Diamond
Offshore's sixth-generation drillships currently under contract in
a high-current area in the Gulf of
Mexico.
"This technology advancement is the result of Diamond Offshore's
engineering expertise and thought leadership and should benefit the
broad offshore drilling industry as it gets adopted," said
Woll.
ABOUT DIAMOND OFFSHORE
Diamond Offshore is a leader in offshore drilling, providing
contract drilling services to the energy industry around the globe.
Additional information and access to the Company's SEC filings are
available at www.diamondoffshore.com. Diamond Offshore is owned 53%
by Loews Corporation (NYSE: L).
Company and profile of the Trelleborg group:
Trelleborg is a world leader in engineered polymer
solutions that seal, damp and protect critical applications in
demanding environments. Its innovative solutions accelerate
performance for customers in a sustainable way. The Trelleborg
Group has annual sales of SEK 30
billion (EUR 3.25 billion,
USD 3.60 billion) in over 40
countries. The Group comprises five business areas: Trelleborg
Coated Systems, Trelleborg Industrial Solutions, Trelleborg
Offshore & Construction, Trelleborg Sealing Solutions and
Trelleborg Wheel Systems, and the operations of Rubena and
Savatech. In addition, Trelleborg owns 50 percent of Vibracoustic,
the global market leader within antivibration solutions for light
and heavy vehicles. The Trelleborg share has been listed on the
Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large
Cap. www.trelleborg.com.
Trelleborg's offshore operation
Using advanced polymer
material technology, Trelleborg's offshore operation provides high
integrity solutions for the harshest and most demanding offshore
environments. As part of the Trelleborg Offshore & Construction
Business Area of Trelleborg Group, Trelleborg's offshore operation
specializes in the development and production of polymer and
syntactic foam based seismic, marine, buoyancy, cable protection
and thermal insulation products, as well as rubber-based passive
and active fire protection solutions for the offshore industry.
Within its portfolio are some long established and respected brands
including, CRP, OCP, Viking and Emerson & Cuming. Trelleborg's
offshore operation has been providing innovative solutions to the
industry for over 30 years.
www.trelleborg.com/offshore
This press release contains "forward-looking statements" within
the meaning of the federal securities laws. These forward-looking
statements include statements as to the expected benefits of the
new technology and other statements that are not of historical
fact. Forward-looking statements are inherently uncertain and
subject to a variety of assumptions, risks and uncertainties that
could cause actual results to differ materially from those
anticipated or expected by management. A discussion of the
important risk factors and other considerations that could
materially impact these matters can be found in the reports filed
by Diamond Offshore with the Securities and Exchange Commission,
and readers of this press release are urged to review those reports
carefully when considering these forward-looking statements. Copies
of these reports are available through the Company's website at
www.diamondoffshore.com. These risk factors include, among others,
operational risks and various other factors, many of which are
beyond the Company's control. Given these risk factors, investors
and analysts should not place undue reliance on forward-looking
statements.
Contact:
Diamond Offshore
Darren Daugherty
Director, Investor Relations
+1 (281) 492-5370
Trelleborg
Ruth Clay
Marketing Communications Manager
+1 (281) 740-5755
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SOURCE Diamond Offshore Drilling, Inc.