Viper Subsea has secured its largest contract to date for the supply of subsea hydraulic and electrical distribution equipment to an oil field in the Caspian Sea.
The multi-million pound order includes the design and supply of subsea equipment as well as an option for providing a support team to oversee the installation and commission of the equipment.
The company, which has its headquarters in Portishead, has enjoyed a 45% growth rate over the last 12 months and it already has an order book that indicates Viper Subsea will maintain this fast pace of growth this year.
Neil Douglas, Managing Director of Viper Subsea , said: “We are delighted to have secured this order which further cements our position as a global provider of subsea engineering solutions. Our investment in developing new markets and new technology has really paid off and we are experiencing significant growth from our export strategy. Our continued and long-term investment in the development of new technology for the monitoring and improvement of the integrity of subsea electrical cables and connectors should ensure that our growth rate will continue or exceed the current rate. In particular, the interest our latest product V-LIFE has attracted is building our global reputation as an innovative provider of such solutions.”
Earlier this year, Viper Subsea announced it had attracted major operator Shell to join BP and Total in a Joint Industry Project (JIP) to develop its Subsea Line Integrity Monitoring (V-SLIM) unit which is used to identify and locate faults in remote subsea electrical distribution systems.
Press Release, September 02, 2014