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Large Subsea Contract for CSUB

Source: www.gulfoilandgas.com 12/10/2020, Location: Europe

CSUB has developed a new single well protection structure for the protection of wellheads for offshore production of oil and gas. The first commercial project was delivered earlier this year.

DeepOcean has now awarded a large order for nine protection structures. The contract worth tens of millions of kroner is considered a commercial breakthrough for a product for which there is a large market. All production wells down to a depth of 600 to 800 meters need protection against falling objects or trawl gear.

CSUB’s solution is lighter and cheaper than traditional steel protection and is also completely disconnected from the wellhead. The solution has a significantly lower carbon footprint than traditional building materials such as steel and concrete.

The nine structures will be ready for installation in April 2021. System design is now underway at the CSUB head office in Arendal. Fabrication will be done at the company’s production facility in Lithuania.

Technology and Marketing Director Jon Inge Brattekas, says the contract marks a breakthrough for the company’s investment in technology development.

“In years to come, this market has the potential to provide several hundred million in annual turnover. We have worked closely with several oil companies to develop this patented product which meets customers’ needs for cost savings and sustainability. Our composite technology is generally well adapted to the subsea market due to the combination of high strength, good formability, low weight and competitive price,” says Brattekas.

According to CEO Anders Holm, CSUB experiences significant growth in both in the oil and gas industry and especially within aquaculture.

“In recent years we have built a separate technology department and invested significantly in product development. This contract is one of several examples of our investment bearing fruit. Our level of activity is high and increasing, and we are recruiting capacity and expertise in our technology development, and in design, fabrication and assembly,” says Holm.

CSUB specializes in the development and production of large glass fiber structures. Main markets are oil and gas and aquaculture. Emerging markets are renewable energy and the construction industry.

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