NLI Subsea Reports Company Growth

NLI Subsea is experiencing growth and welcomes 2014 with increasing order books. CEO Egil Solheim believes the positive trend is a result of its long-term focus on building expertise.

“The industry makes ever greater demands on expertise and especially within subsea. NLI Subsea’s ambition is to be the best within selected market segments. There are niches in subsea with huge business potential,” says Solheim.

NLI Subsea was spun out of NLI as a separate priority area in 2013. After a challenging start in 2013, orders have picked up gradually, and has now tripled since March 2013. This proves optimistic for 2014.

“2013 has been a difficult transition year for us. It is positive that we now see the results of this work. In 2014 we will continue our efforts to adjust our operations to meet our customers’ various needs and a market in constant development,” says Solheim.

The subsea market is growing and infrastructure offshore is increasingly laid under water. NLI Subsea has leading system-suppliers such as FMC, Aker Solutions and GE Oil & Gas as customers.

“We face ever higher quality standards for the oil companies and system suppliers. Future winners in the industry will be those who delivers quality on time, and at the same time manages to deliver expertise and create profitable operations throughout the supply chain,” Solheim says.

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Press Release, December 19, 2013