ShawCor provides update on South Stream

In December 2014, ShawCor Ltd. announced the suspension of the majority of the work on its South Stream Pipeline contracts with Europipe GmbH and Marubeni Sumitomo Consortium (with a combined value of approximately US$100 million) and with Saipem SpA (with a value of approximately CAN$30 million).

ShawCor announced today that its Canusa-CPS division has received notification from Saipem SpA that the suspension of the work on the above noted Saipem contract has been lifted with immediate effect and that work on this contract is to be resumed.

ShawCor Ltd. is an energy services company specialising in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. The company operates through nine divisions with over ninety manufacturing and service facilities located around the world.

Adapted from press release by Hannah Priestley-Eaton

Published on 15/05/2015

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