EV Private Equity portfolio company, Enpro Subsea, wins Subsea UK’s Company of the Year award
Production optimisation specialist, Enpro Subsea, has been named Company of the Year during the Subsea UK Awards gala dinner last night (Wednesday, 12th January 2020), in celebration of the very best of the sector’s businesses and stand out individuals.
The Subsea UK Awards judging panel recognised the Aberdeen headquartered business for its successful development of technologies which provide ‘smart standardisation’, allowing operators to reduce development schedule and costs by using standard subsea hardware while still enabling project specific technology.
The firm’s Flow Access Module (FAM) essentially acts as an enhanced production ‘USB port’ within the jumper envelope. It means that throughout the life of field, customers have a flexible way of integrating functions such as flow measurement, flow assurance, data acquisition and hydraulic intervention.
Since the first FAM was installed subsea in the Gulf of Mexico in 2016 over Seventy have been adopted globally. In the last year, the company has continued to secure business in key Deepwater regions, including the Gulf of Mexico and West Africa.
The company was also acknowledged for expanding their Flow Intervention Services (FIS) offering, launching their ‘next generation’ 15,000psi Hydraulic Intervention System. The new higher rated system is an evolution of their earlier 10,000psi FIS which has completed 19 subsea intervention operations to date, including scale squeeze and acid stimulation, for multiple clients and from a range of vessels in West Africa.
In 2018, Enpro Subsea secured investment from EV Private Equity to grow its production optimisation business into new and existing international markets, and further develop the range of production optimisation and intervention technologies. This cash injection accelerated the expansion of the FAM production and intervention system, as well the global deployment of its FIS hydraulic intervention rental system.
Ian Donald, Enpro Subsea’s CEO said:
“Our long-term approach has been to develop differentiated technologies which return tangible cost savings and operational flexibility to customers. This Subsea UK Company of the Year Award recognises the team’s continued commitment in delivering this. As an SME to be considered in this category alongside the key global organisations and ultimately win this award is a great recognition of our technologies and the team’s efforts.”
Helge Tveit, EV Private Equity Managing Partner said:
“We are thrilled that Enpro Subsea is being widely recognised for its innovative technologies and the team’s relentless commitment to delivering solutions and projects to their clients all around the world.
“Enpro has grown its product portfolio and client base rapidly since its establishment in 2011, and EV Private Equity are proud to support the firm on its successful journey to becoming a world leader in subsea product optimisation.”