Viper Subsea won a multimillion-dollar contract to supply subsea hydraulic and electrical distribution equipment to an unnamed oil field in the Caspian Sea.
The contract includes the design and supply of subsea equipment, in addition to an option for providing a support team to oversee the installation and commission of the equipment. This marks the largest contract to date for the Portishead-based company.
Viper says the company’s investment in developing new markets and new technology has proved to benefit the company, as they’ve experienced a 45% growth rate in the last 12 months.
“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,” says Neil Douglas, Viper managing director. “In particular, the interest our latest product V-LIFE has attracted is building our global reputation as an innovative provider of such solutions.”
In March, Viper Subsea signed a joint industry project agreement with energy giants BP and Total to further develop its Subsea Line Insulation Monitoring (V-SLIM) technology for identifying and locating cable and connector faults in remote subsea electrical distribution systems.
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