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TIW Valve is a valve used in Oil and Gas drilling rigs to close in the drill string to prevent blow out. T.I.W is really a brand name which stands for: Texas Iron Works. The valves on drilling rigs in the drillstring are often referred to as TIW Valve; these are really Upper Kelly and Lower Kelly. More often the safety valve which is used on work-over and completions of well and/or work done through the Christmas Tree is also referred to as a TIW type valve. They all are used for pressure control.
Source: wiki.answers.com
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