Tekmar nets £6M in contracts for delivery in 2021
Subsea protection specialist Tekmar has recently secured a number of contracts with an aggregate value of over £6 million due for delivery in 2021 financial year.
During August, Tekmar Energy and Pipeshield International won multiple contracts to supply subsea asset protection and stabilisation technologies to energy companies and tier one contractors for a major offshore oil and gas project in Saudi Arabia.
The two companies, operating together under the Tekmar Group umbrella, combined their capabilities to design, engineer, manufacture and supply over 6,000 metres of TekDuct, over 3,000 ballast modules, 300 bespoke concrete mattresses, vertical restrictors and centralisers for the protection and stabilisation of subsea pipelines, umbilicals and power cables.
New market opportunities
Subsea Innovation has won a contract to develop and deliver novel operation and maintenance solutions for an offshore wind farm in the UK, including an OPEX cable repair solution, scour protection and marine growth cleaning equipment.
Specifically, this is the thirteenth project for Subsea Innovation in the offshore wind market, as it looks to expand its offering from beyond its traditional oil and gas market.
Pipeshield International has secured several contracts to supply asset and scour protection solutions to the marine civils sector, including a ferry terminal upgrade project in the North East of Scotland, beach access works on the East coast of England and specialist scour protection to the river bed and banks of the River Tay in Dundee. Pipeshield International is continuing to see increasing demand for its marine civils products and services throughout Europe.
Expansion into Asia Pacific
Tekmar Energy also landed its first major contact in Japan in late July, to supply its TekLink product for the Akita and Noshiro offshore wind farms.
Furthermore, in China, Tekmar secured a contract to supply cable protection systems for a major offshore windfarm project in the Jiangsu province on the East coast of China.
Tekmar Group’s executive chairman, Alasdair MacDonald, said:
“These recent contract awards help underpin our overall confidence in the Group’s prospects, which we expressed in our full year results announcement in August.
“Our success in securing project wins through the collaboration of our Group businesses shows how much the business is benefitting from its diversification into complementary technologies and being able to offer our international customers a unique customer-value proposition.”