Flowserve Corporation (www.flowserve.com), a provider of flow control products and services for the global infrastructure markets, including the power, chemical, water, oil and gas and general industries, won a contract with an expected value of $85-90 million to supply a variety of specialty pumps to the China Petroleum Engineering and Construction Corporation (CPECC), which is acting as the engineering contractor for the International Petroleum Investment Company (IPIC) to build the Abu Dhabi Crude Oil Pipeline (ADCOP).
The ADCOP will run from the Habshan in Abu Dhabi to the port of Fujairah. The design capacity of the 360-kilometer (223-mile) pipeline is 1.5 million barrels of oil per day. The expected value of the supply agreement is approximately $85-90 million (USD). Flowserve plans to book over 90 percent of this order during the current quarter ending September 30 and plans to book the remainder in a later period.
ADCOP is intended to eliminate the need for oil tankers to pass through the Straits of Hormuz and allow the tankers to be loaded at the deep water port in Fujairah. The pipeline is expected to save significant transport costs for the oil. Under this supply agreement, Flowserve will provide a range of pumping technology for main oil line, booster duty and tanker loading for the project.
