HOUSTON, June 26, 2002 - - Weatherford International, Inc. (NYSE: WFT) will introduce the first in its line of SubSurface Safety Control Valves (SSV) that will be manufactured for worldwide distribution in the Lafayette, La. area.
The SSV is a fail-safe device that shuts off oil flow if it senses an irregularity in the downhole system. It is connected by a hydraulic control line to an Emergency Shut-Down (ESD) System at the surface. This system monitors the production process conditions, and responds accordingly to any abnormalities. The device is required for oil production in the Continental Shelf of the Gulf of Mexico and many other areas worldwide.
Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer, Weatherford International and Mark Hopmann, President of Weatherford Completion Systems will mark the occasion by imprinting the first valve at Weatherford Specialty Manufacturing, Scott, La. The imprint certifies that the valve meets the highest standards for technology of this kind.
Weatherford will open the facility to members of the media for lunch and an informational tour of the production process on June 28, noon-3 p.m. For more information, contact Karen Gillen-Allen, 713-693-4248 or email Karen.gillen-allen@weatherford.com.
Houston-based Weatherford International, Inc. (http://www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs approximately 15,000 people worldwide.