SubOcean Group Sees Turnover Double
SubOcean Group is on target to achieve a turnover of £17 million at the end of this year. The company, which was formed in 2005, has seen its turnover more than double in the last six months.
With 40 people now employed onshore and a personnel supply workforce of 150 offshore, SubOcean is aiming to double the business again in the next 24 months.
Recent contract wins in offshore wind renewables as well as in international markets, most notably in the United States and Tunisia, have contributed to the phenomenal growth.
SubOcean has just completed its first US contract for Horizon Offshore to help deliver an offshore gas loading system on the Northeast Gateway Project in Boston.
Horizon Offshore, one of the major marine construction businesses in the US, awarded SubOcean the contract to assist in trenching a pipeline, which will allow tankers to pump gas into Boston without entering the harbor.
SubOcean provided engineering and operational support to Horizon, allowing them to carry out the trenching for the pipeline without diver support. The company modified a pipeline trenching plough to accommodate the deeper water requirements, up to 100 meters, outside Boston’s harbor. They then sourced and installed a subsea control system to replace the previous diver operated system.
The pipeline trenching work was undertaken from a Horizon lay barge. Sixteen miles of 24-inch concrete coated pipeline was installed and buried two meters below the seabed.
"We have demonstrated how we can re-commission and modify existing kit such as pipeline ploughs so that the trenching on the seabed can be carried out remotely," says SubOcean director, Mike Daniel. "Essentially we have transferred our experience gleaned in the North Sea for use on this project."
SubOcean Group was approached by Horizon because of their experience of trenching in the oil and gas sector.
Since 2005, SubOcean has gradually been building a reputation in the design and delivery of subsea installation projects as well as the supply of personnel and equipment to the subsea sector.
It has also just completed two contracts worth approximately £2million with Mondial Contractors SA and Petrofac Resources for Petrofac Resources’ Chergui Gas Field Development in Tunisia.
The contracts were to supply a barge with associated support vessels, equipment and personnel to carry out the installation of a 28 kilometer 12 inch pipeline in shallow waters.
The project was completed by floating out 500 meters of pipe string to the installation site from the shore and then conducting an offshore weld on the barge to connect the existing laid down pipeline on the seabed to the floated out section before lowering the pipeline to the seabed in preparation for the next section.
The company supplies offshore management personnel, divers, life support technicians, ROV operators, subsea equipment operators and offshore administrators. In addition, it is helping to meet the infrastructure gap by hiring out specialist subsea equipment to the major contractors operating in oil and gas and offshore windfarms.
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- SubOcean Group Sees Turnover Double (Sep 26)