MRC Global Awarded Major Contracts for Statoil's Johan Sverdrup Project

Nov 02, 2015, 16:15 ET from MRC Global Inc.

HOUSTON, Nov. 2, 2015 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that its Norwegian subsidiaries, MRC Teamtrade and MRC Energy Piping, have been awarded major contracts to support Statoil's Johan Sverdrup project in the North Sea.

Johan Sverdrup, a multi-platform offshore development in the Norwegian Continental Shelf, is the largest project in the North Sea. The development will include four platforms: a utility and accommodation platform, a processing platform, a drilling platform and a riser platform all linked by bridges.

MRC Energy Piping will supply the pipe, fittings and flanges (PFF) to the processing and riser platforms of the Johan Sverdrup project. Statoil awarded the construction contract for the two platforms to Samsung Heavy Industries, who then awarded the PFF contract to MRC Energy Piping. The contract is the largest single award in MRC Energy Piping's history.

MRC Teamtrade will supply the instrumentation products for all four platforms throughout the lifetime of the field. This includes Hoke Gyrolok fittings, instrument valves and manifolds, BuTech high pressure fittings, tubing and valves, and instrument tubing, heat traced tubing, hoses and seal rings.

"Our January 2014 acquisition of Stream AS, part of our long-term strategy to expand internationally and grow our upstream offshore business, brought both MRC Teamtrade and MRC Energy Piping to our company," Andrew Lane, MRC Global Chairman, President and CEO, said. "Their long-term relationships and excellent track record with Statoil, now one of our top 20 customers, has created this opportunity for growth even in the face of this challenging market. We are honored for the trust Statoil and Samsung Heavy Industries have placed in us."

"We know that the success of Johan Sverdrup will require many different suppliers, including MRC Energy Piping and MRC Teamtrade, to deliver quality products, on-time, with precision," Steinar Aasland, MRC Global Senior VP – International Operations, said. "This is a team effort and we look forward to working with Samsung Heavy Industries and Statoil on such an important project for Norway."

About MRC Global Inc. Headquartered in Houston, Texas, MRC Global, a Fortune 500 company, is the largest global distributor, based on sales, of pipe, valves, and fittings (PVF) and related products and services to the energy industry and supplies these products and services across each of the upstream, midstream and downstream sectors. More information about MRC Global, or its sub-brands, can be found at www.mrcglobal.com

Contact:

Monica Broughton Investor Relations MRC Global Inc. Monica.Broughton@mrcglobal.com 832-308-2847

SOURCE MRC Global Inc.



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