Airborne Oil & Gas announces significant investment from Sumitomo Corporation

Major supplier to the Oil & Gas industry steps into disruptive composite pipe solutions.

Today, Airborne Oil & Gas (AOG), the leading manufacturer of Thermoplastic Composite Pipe (TCP) for Oil & Gas applications, announced that Sumitomo Corporation has acquired a significant shareholding in AOG.

The investment by Sumitomo Corporation strengthens a strategic partnership which both companies entered into in 2016, in which the companies collaborate to provide the oil & gas industry with cost effective TCP technology solutions that are non-corrosive, light-weight and result in significantly lower total installed cost.

Mr. Takushi Kikuchi, General Manager for Tubular Products Units of Sumitomo Corporation Europe Limited, stated: "I am very pleased with this investment in Airborne Oil & Gas, as we are committed to deliver cost reduction and efficiency to the Oil & Gas industry, introducing new technologies and business models. AOG’s Thermo-Plastic Composite pipe is a perfect addition to continue our mission. We believe that TCP technology has achieved a breakthrough in the market place and have a disruptive potential for SURF applications. The industry is now, more than ever, ready to embrace such new technology; Sumitomo Corporation and Airborne Oil & Gas are very well positioned to provide valuable solutions from this partnership."

Ms. Aleksandra Wrobel, CFO of AOG said: “We are very proud of our shareholder base, which already included Shell, Chevron, Saudi Aramco, Evonik and Subsea 7. We are delighted to welcome Sumitomo Corporation in this group, and to be able to work together moving forward. Their significant investment is testament to what we have achieved thus far, pioneering the introduction of thermoplastic composite pipe technology in a conservative market, and creating the largest track record in this space."

Mr. Martin van Onna, CCO of AOG, added: "We look forward to continuing and deepening our cooperation with Sumitomo Corporation. Since 2016, we have been working together in offering TCP solutions to the industry. The current investment will strengthen our collaboration and allow us to offer integrated and advanced TCP solutions around the globe. We look forward to leveraging Sumitomo's vast network of experts, offering TCP solutions where they fit best, be it stand alone or part of larger subsea infrastructures. Our company cultures and values are a perfect match, offering our clients know-how, expertise, transparency and trust."

For more information please contact:
Airborne Oil & Gas BV
Aleksandra Wrobel
T: +3120 255 763500
E:a.wrobel@airborneoilandgas.com
www.airborneoilandgas.com

About Sumitomo Corporation:
Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 107 locations in 65 countries and 22 locations in Japan. The entire SC Group consists of more than 900 companies and 70,000 personnel. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and ICT, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.

TCP Flowline

TCP Flowline eliminates corrosion and is the lowest total installed cost solution for greenfield and brownfield applications

Airborne Oil & Gas designs and manufactures TCP Flowline products for hydrocarbon production, water, gas lift, and chemicals injection. Its non-corrosiveness, light weight, spoolability and ability to terminate in the field make it the best solution for in-field flowlines, tiebacks, single well step-outs, and (quasi) static risers.

The solid pipe structure is impervious to corrosion, resulting in outstanding performance in corrosive environments. It has an inner, fully bonded, smooth bore polymer liner that ensures the best attainable flow properties while still being piggable. The thermal performance of TCP is considerably better than that of steel (reinforced) pipe. Our end-fittings are simple and robust, relying on a well-proven mechanical clamping method. Assembly of the pipe with our end-fittings is straightforward, can be done both onshore and offshore and at any location on the pipe.

TCP Free Hanging Risers

TCP Free Hanging Risers deliver significant cost reductions compared with the traditional Lazy wave Riser solutions used in deep water harsh condition areas such as Santos Basin Brazil

Airborne Oil & Gas designs and manufactures TCP Riser products for hydrocarbon production, water and gas injection, gas lift and chemicals injection. Its light weight, good fatigue performance, non-corrosiveness and spoolability make it the best solution for Deep Water Free Hanging Risers.

Our TCP Riser is supplied in long spoolable lengths for cost-effective reel lay and lowest as-installed cost. This leads to a radical 30% saving on as-installed cost as shown in the TCP Riser business case.

Read more about TCP Free Hanging Risers