OIL STATES INDUSTRIES LEVERAGES 80 YEARS OF OIL AND GAS EXPERTISE TO ADVANCE MULTISOURCE ENERGY MIX

OIL STATES INDUSTRIES LEVERAGES 80 YEARS OF OIL AND GAS EXPERTISE

TO ADVANCE MULTISOURCE ENERGY MIX

A Legacy of Deepwater Innovation Informs New Offshore Wind Technologies

 

HOUSTON, TX (May 2, 2022) – Oil States Industries, Inc. (“OSI”) a global provider of manufactured products and services for the traditional and renewable energy sectors, announced today it is helping ensure a multisource energy mix with the development of offshore wind technologies that leverage the Company’s deepwater expertise. The Company’s most recent addition to its new technologies for the wind energy industry is a Fixed Tension Leg Platform (FTLP).

OSI’s deepwater expertise, including fixed and floating production infrastructure, spans more than 40 years of its 80-year history. The Company’s renewable energy business unit, OSI Renewables™, applies its offshore oil and gas experience to the challenges of the offshore wind industry.

As water depths, technical complexity and supply chain requirements for offshore wind farms are increasingly beyond the cost-effective limit for monopiles and jacket structures, next-generation platform technology is necessary to optimize offshore wind’s potential. While there are four current floating platform options for offshore wind projects – barges, semi-submersibles, SPARs and TLPs – each one provides certain advantages and challenges.

OSI is the leading global TLP mooring system expert, having manufactured and installed 95 percent of the world’s TLP mooring systems. OSI’s patent-pending FTLP incorporates its decades of deepwater TLP learnings to minimize levelized cost of energy (LCoE) across the offshore wind life cycle.

Current floating offshore wind platform options are constrained by limitations with port infrastructure, inland transportation routes, and harbor depth and draft, which influence the ability to build and install systems locally at commercial scale. OSI’s FTLP reduces tower weight by 75 percent, can be built locally to meet local content targets and potentially reduces the need for quayside reinforcement.

OSI’s FTLP is a 15MW system capable of 70 to 150-meter water depths and wave heights up to 19 meters, which significantly expands opportunities for offshore wind development. This range makes the FTLP a viable alternative to the conventional buoyant hull of a traditional TLP while maximizing platform stability and turbine efficiency. The FTLP also offers a low CO₂ footprint that should save up to 4,070 carbon units compared to a semi-submersible hull, and reduces seabed environmental impact by utilizing fewer and smaller anchors.

“With over 40 years of deepwater floating infrastructure experience, we understand the challenges and apply our expertise to enable developers to overcome the barriers to wind capture in the much more dynamic floating environment,” said Garry Stephen, Group Vice President – U.K. and Asia for OSI. “We’re committed to leveraging our global resources to support customers to ensure the world benefits from a broad mix of affordable and reliable energy sources, including both oil and gas as well as renewables.”

Through a global footprint spanning 14 countries and more than 1,300 employees, Oil States applies its engineering and analysis, manufacturing, testing, and offshore operational experience to provide integrated systems and services.

The Company’s offshore wind innovations will be displayed at the 2022 Offshore Technology Conference at NRG Park in Booth 1940. Throughout the conference, the Company will celebrate its 80th anniversary and demonstrate how the Company has evolved to connect the energy future with traditional and lower-carbon energy sources for a multisource energy mix.

About Oil States Industries, Inc.

Celebrating 80 years in the energy industry, Oil States Industries, Inc. (the “Company”), a subsidiary of Oil States International, Inc. [NYSE:OIS], is a global provider of critical components, systems and service to the traditional and renewable energy sectors. The Company solves key challenges in drilling and completion, production, asset management and life extension, decommissioning, renewable energy, deepsea minerals and marine lifting and handling. The Company also provides complex and custom parts manufacturing and molding, specialty welding consulting and engineering and precision machining as well as specialized testing services.

 

With the subsidiary headquarters in Arlington, Texas and manufacturing and services facilities in 14 countries, the Company is focused on connecting the energy future with traditional and lower-carbon energy sources for a multisource energy mix.

 

For more information, please visit www.oilstates.com.

About Oil States, International, Inc.

Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company’s manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas with manufacturing and service facilities strategically located across the globe. Oil States is publicly traded on the New York Stock Exchange under the symbol “OIS”.

For more information on the Company, please visit Oil States International’s website at www.oilstatesintl.com.

 

Press Contact:

Bethany Hilt, Hilt Strategic Communications LLC

hiltb@hiltstrategiccommunications.com

Phone: 1+ 330-338-6633

 

Company Contact:

Brian Mizell, Oil States Industries, Inc.
Vice President- Business Development & Marketing

brian.mizell@oilstates.com

Phone +1 817 548 4200