DeepOcean Nets $201.8M in Subsea Deals with Equinor, BP, ConocoPhillips

Monday, November 28, 2022

Subsea services provider DeepOcean said Monday it had secured "substantial contracts" with oil and gas companies Equinor, ConocoPhillips, and BP worth a total of NOK 2 billion (around $201.8 million). 

The awards involve subsea inspection, maintenance, and repair(IMR), subsea construction, removal and recycling of subsea equipment, and subsea survey scopes in the North Sea region, until the end of 2026.

“In recent years, future workload visibility has been limited in our industry. We are therefore pleased to see that the market is changing. A solid long-term order backlog will enable us to continue accelerating our ongoing technology initiatives, which are aimed at achieving more efficient work execution, greener operations, support the energy transition and our ambition to reduce cost level for operators in the ocean space,” says Rolf Ivar Sørdal, DeepOcean’s commercial director in Europe.

DeepOcean said its technology initiatives included the construction of DeepOcean’s unmanned surface vehicle (USV), use of subsea autonomous inspection drones (AID) as well as making the onshore Remote Operations Centre an integral part of DeepOcean and operators’ offshore operations.

Headcount growing

DeepOcean said that so far in 2022, it has employed close to 200 new colleagues, including young trainees and apprentices, skilled offshore workers, and engineers.

“Energy supply is of great importance, DeepOcean has a large fleet of very capable subsea vessels, and a highly talented workforce to support energy security and the green transition in the energy markets. We are delighted to receive these important awards from some of our key clients both in oil and gas markets and within offshore wind, says Olaf A. Hansen, managing director of DeepOcean’s operations in Europe.


Categories: Energy Subsea Activity Europe Inspection & Repair & Maintenance

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