Regulatory News

Cenergy Holdings announces that Corinth Pipeworks, its steel pipes subsidiary, has signed an agreement with Subsea 7 in Norway, to manufacture and supply High Frequency Welding (HFW) steel pipes for the tie-back of Aker BP’s Kobra East & Gekko (KEG) resources to the existing Alvheim FPSO, in the Norwegian North Sea.

This award to CPW is the latest coming from the subsea alliance of Aker BP, Aker Solutions and Subsea 7 and builds on the success of earlier pipeline developments such as Skogul, Aerfugl I & II and Hod projects.

The 9km of 16” HFW pipes for KEG will be manufactured and coated in ultra-long lengths at Thisvi facility, Greece and delivered directly to Subsea 7’s spoolbase in Vigra, Norway for fabrication and subsequent reel-lay installation.

This award is another milestone in CPW’s growing offshore presence as end-users and lay-contractors utilise more and more its latest welded pipe technology for critical offshore applications.

Corinth Pipeworks has built a strong track-record in successful execution of offshore linepipe projects in global markets. We strongly believe technology driven cost reduction measures, that CPW has introduced, advance upstream tie-back project developments like KEG to remain an important part of the future energy mix.

About Subsea 7

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry. Subsea 7’s offshore operations span five decades, successfully completing over 1000+ projects.

About AKER BP

Aker BP explores for and produces oil and gas on the Norwegian continental shelf. In production we are one of the largest independent listed oil companies in Europe. Aker BP is listed on the Oslo Stock Exchange with the ticker “AKRBP”.

About Cenergy Holdings

Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors. For more information about our company, please visit our website at www.cenergyholdings.com.