CONTROLS technology company Proserv Group has announced a strategic agreement with Dril-Quip.
Dril-Quip will rely upon Proserv, based in Westhill, Aberdeenshire, for the development and manufacturing of its subsea control systems as a supplier.
The mutually beneficial arrangement allows Dril-Quip to continue to support its existing subsea controls customers with the support of Proserv. The agreement follows Dril-Quip’s strategic decision to consolidate the supply and development of control systems with a dedicated subsea controls provider.
In addition, the agreement establishes a framework where Proserv and Dril-Quip may pursue joint marketing and collaboration efforts, with Dril-Quip providing subsea trees and Proserv providing subsea controls.
Blake DeBerry, Dril-Quip’s chief executive officer, said: “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.”
David Currie, Proserv Group chief executive officer, 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.”