Forum Inks 5-Year Agreement with Canyon

Forum Energy Technologies (Forum) announced the signing of an exclusive five-year supply agreement with Canyon Offshore (Canyon). Under the agreement, Forum will be the exclusive provider to Canyon of work-class ROVs and Trenchers. This agreement was initiated with the award of two Perry XLX-200 work-class ROV systems, scheduled for delivery in the second quarter of 2012 and immediate mobilization onboard Canyon's newest vessel, the Grand Canyon.

Under the agreement, Canyon, a member of the Helix Energy Solutions Group, expects to benefit from recent and future technical advances made in Forum's work-class ROVs. Forum expects to work closely with Canyon to provide the remote technology necessary to improve Canyon's deep-water operations and reduce risk.

Forum's subsea technologies include the most extensive range of remotely operated vehicles (ROVs) from electric observation ROVs to large hydraulic work-class vehicles which are used for inspection, survey and deep-water construction. Forum also provides other remote intervention technologies and services.

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