Matrix Composites & Engineering secures $14m purchase order

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Matrix Composites & Engineering has secured a purchase order from Himile Mechanical Manufacturing worth approximately A$14 million for the supply of a Deepwater Drilling Riser Buoyancy System.

Under the agreement, Matrix will develop the riser buoyancy modules and riser protection system to support a newbuild deepwater floating rig project in Asia.

Matrix CEO Aaron Begley said the company expects to complete and ship all modules of the system during the March 2023 quarter, with all equipment to be built in Matrix’s state-of-the-art composites production facility in Henderson, Western Australia.

“This award demonstrates Matrix’s ability to capitalise on increased activity in the subsea segment of the Buoyancy and SURF market,” Mr Begley said.

“Whilst we have seen the award of several key projects under tender in this market be delayed due to short-term logistics disruptions among major oil and gas project proponents internationally, we are well-positioned to secure and successfully execute on these orders as they now arise.

“Additionally, we are also continuing to build our advanced materials capabilities across the energy and resources sectors.”

Matrix specialises in the design, engineering, and manufacture of composite and advanced material technology solutions for the oil and gas, civil and infrastructure, resources, defence, and transportation industries.

Image credit: https://matrixengineered.com/product-service/buoyancy-systems/drill-riser-buoyancy-systems/