Proserv wins its largest subsea control systems order
- Business & Finance
Proserv has been awarded its largest contract yet for subsea controls by a leading oilfield service company, reinforcing the company’s global footprint and market-leading position in the subsea technology sector.
The contract, which is worth around $40million (approx £24m), will see Proserv provide nine subsea control systems to support deepwater workover controls services for several projects in Brazil up to 2,500m water depth.
Overall project execution along with the engineering and build of the subsea control systems will be carried out at Proserv’s Great Yarmouth facilities. The company’s dedicated manufacturing facility in Johor Bahru, Malaysia, will deliver the accompanying hydraulic power units.
The systems will be delivered to the client in a phased approach throughout 2015 in line with key project milestones.
Proserv is already on target to create 90 new jobs in the Great Yarmouth region this year as a result of this contract win and due to continued business growth.
David Lamont, Proserv’s chief executive officer, said: “This significant contract award is testament to the hard-work, expertise and experience of our entire team and further evidence of the great reputation we have built, and continue to build globally.”
“At Proserv, we are able to offer clients the latest developments in technologies and can back it up with industry experts who have a real depth of knowledge in the area they work in. This, combined with our track record for delivering value-added products on time and in budget, were crucial factors in securing this contract.”
John Willmott, general manager of Proserv’s Great Yarmouth facilities, said: “Winning this award is a huge achievement for the company, but especially for our team here in Great Yarmouth. The skills and expertise of our people is in high demand and we are exporting some of the most technically advanced subsea equipment to clients all over the world.
“In line with the company’s rapid global growth, we are continuing to invest in our people, facilities and technologies to support our future sustainable expansion and strong order pipeline.”
Proserv, which operates worldwide through 31 operating centres based in 11 countries, has a 40-year track record in delivering bespoke technologies and services for the energy industry, particularly in the drilling, production, subsea and marine market sectors.
In February Proserv announced it had acquired precision engineering firm KRG Industries, a well-established provider of machining, welding, inspection and testing services to the oil & gas, aerospace and defence industries.
The deal comes several months after Proserv acquired Australian-headquartered Velocious, a pioneering subsea intervention and tooling company.