CSUB lands well protection deal with DeepOcean
Norway-based CSUB has secured a contract from DeepOcean for nine well protection structures.
CSUB has developed a new single well protection structure for the wellheads for offshore production of oil and gas.
The first commercial project delivery took place earlier this year.
The new multi-million-kroner contract could be a commercial breakthrough for a product with a large market, CSUB says. All production wells down to a depth of 600 to 800 metres need protection against falling objects or trawl gear.
According to CSUB, its solution is lighter and cheaper than traditional steel protection and is also completely disconnected from the wellhead. The solution has a significantly lower carbon footprint than traditional building materials such as steel and concrete.
The nine structures will be ready for installation in April 2021. System design is now underway at the CSUB head office in Arendal. Fabrication will take place at the company’s production facility in Lithuania.
Jon Inge Brattekås, technology and marketing director, said:
“In years to come, this market has the potential to provide several hundred million in annual turnover. We have worked closely with several oil companies to develop this patented product which meets customers’ needs for cost savings and sustainability. Our composite technology is generally well adapted to the subsea market due to the combination of high strength, good formability, low weight and competitive price.”
CSUB CEO, Anders Holm, also said:
“In recent years we have built a separate technology department and invested significantly in product development. This contract is one of several examples of our investment bearing fruit. Our level of activity is high and increasing, and we are recruiting capacity and expertise in our technology development, and in design, fabrication and assembly.”