Curtiss-Wright Signs an Exclusive Cooperation Agreement with Saipem for Subsea Pump Technology

Curtiss-Wright Corporation (NYSE: CW) today announced that it has signed
an Exclusive Cooperation Agreement with Saipem for barrier fluid-less
subsea pump technology for water treatment and injection applications.

The development of the barrier fluid-less pump is a derivative
technology application of Curtiss-Wright’s internationally recognized
commercial nuclear expertise whose hallmarks are high reliability and
maintenance-free equipment designs.

To qualify this new technology, Curtiss-Wright and Saipem will develop,
build, and test a full-scale prototype of a barrier fluid-less pump.
This pump is a cornerstone of the all-electric strategy to replace
conventional hydraulic umbilicals with power/control cables in subsea
processing applications. This technology will be beneficial for
SPRINGS®, the subsea desulfation technology co-owned by Saipem, Total
and Veolia, as well as for Saipem’s proprietary subsea processing
technologies as a whole.

“We are very excited that the agreement with Saipem will allow
Curtiss-Wright to bring its advanced motor technology to the subsea oil
and gas market with a world-class integrator,” said David C. Adams,
Chairman and CEO of Curtiss-Wright Corporation. “By leveraging decades
of experience in supplying equipment for some of the most demanding
applications, the barrier fluid-less solution will provide significantly
reduced support infrastructure needs and a step-change in subsea motor
and pump reliability.”

Stefano Porcari, COO of Saipem’s E&C Offshore Division, commented: “The
strategic partnership with Curtiss-Wright marks a fundamental milestone
for the technology development program Saipem has in place in order to
become a key player in the Subsea Processing Market. Reliability,
innovative design and a relentless focus on quality are the pillars of
such a journey towards the next frontiers of subsea oil development.
Today, we set the basis for a successful inception of our product and
service portfolio within the Subsea Processing Market.”

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global innovative company that
delivers highly engineered, critical function products and services to
the commercial, industrial, defense and energy markets. Building on the
heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a
long tradition of providing reliable solutions through trusted customer
relationships. The company employs approximately 8,600 people worldwide.
For more information, visit www.curtisswright.com.

About Saipem

Saipem is one of the world leaders in drilling services, as well as in
the engineering, procurement, construction and installation of pipelines
and complex projects, onshore and offshore, in the oil & gas market. The
company has distinctive competences in operations in harsh environments,
remote areas and deepwater. Saipem provides a full range of services
with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has
distinctive capabilities and unique assets with a high technological
content. For more information on Saipem SPRINGS® technology, visit, http://www.saipem.com/sites/SAIPEM_en_IT/scheda/springs.page

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