Multi-million Pound Investments Secure Subocean’s Market-leading Position
18 May 2009
Aberdeen-based subsea construction company, Subocean Group, has invested almost £16 million in cable laying equipment and the re-fit and mobilisation of a cable-laying barge which is on long term charter to meet demand for their services in the offshore wind sector.
Underlining their commitment to marine renewables, the company has invested £5 million in a 5500 ton cable carrying capacity carousel for reeling the power cables on to the barge before laying the cables under the seabed. £2 million has also been spent on two new specially designed cable ploughs acquired from IHC Engineering Business.
The equipment is for exclusive use on recently awarded contracts in the offshore renewable energy sector in the UK.
£5 million has been ploughed into a long-term charter and the re-fit and mobilisation of the cable-laying barge ATM Discoverer. The vessel is also being equipped with a cable plough to bury the power cables up to three metres below the seabed. She is being mobilised by Fergusons in Port Glasgow in a contract worth around £500,000 and involving 30 shipyard workers.
The company has also invested £4 million in upgrading its existing UR101 barge with a 1,000 tonnes cable carrying carousel and upgrading an existing cable plough to make it capable of cable burial in depths of three metres.
These long term financial investments cement the company's position as a leading provider to the rapidly-growing offshore renewable sector and add to their already impressive range of subsea equipment.
Subocean's operations director, Mike Daniel said: “We are investing heavily in our assets to help us capitalise on the recent international and national contracts we have won in marine renewables. In addition to the booming renewables sector our North Sea and international oil and gas contracts have placed us well to continue our expansion and ambition to be a major player in the subsea construction industry.
“Demand for vessels in marine renewables remains high. By securing these barges on long-term charters, we are in a prime position to meet the needs of renewable energy companies.”
Subocean Group provides turnkey project design and implementation, including engineering, procurement, installation and commissioning of subsea facilities. It also 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.