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Does RSIP contract win point to new wave of ambition in subsea sector?

Reef Subsea Integrated Projects (RSIP) has won a major contract which means it will be running a significant North Sea oil project. 

RSIP will be charged with the task of providing equipment, plans and a number of experienced operators to contribute towards the project which is due to begin next year.

A sign of things to come?

The deal indicates that companies who may have been small players in the subsea sector at one time are making genuine and sustained attempts to further their ambitions.

Technip Norge AS has been named as the client and they will also be provided with a Q1000 jet trencher by the international company that has offices in Thornaby, near Stockton.

The Q1000 certainly leads the way within the subsea industry in terms of raw power and innovation, holding 700kw of variable jetting power as well as 750kw of total installed power. It possesses the capacity to trench pipelines as well as both cables and umbilicals up to 3 metres in the seabed. 

The deal is certainly a sign that RISP is moving in the right direction since they emerged from the merger between Reef Subsea Norway and Reef Subsea Power & Umbilical.

Backing up their original aims

The new division has certainly made a good start in achieving their stated aim of growing into new markets while delivering a more effective projects delivery division.

The company currently has additional sites across Europe, including Norway, Singapore and Aberdeen, and it seems likely that there will be expansion in this regard as they continue to secure major contracts such as the one above.

Daryl Lynch, Commercial Director at RSIP, was effusive about the new deal and what it means for the company.

“We are delighted to have secured this workscope with a prestigious client, Technip Norge AS. The Q1000 is an exceptional trencher, managed by experienced operators, which will provide added value to our client on the Boyla Development Project,” he commented.

Is such a deal a sign that ambition is growing in the industry among companies that may have been seen as relatively small but are now willing to display a strong commitment to growth? If more companies follow the lead of RSIP then it could exacerbate such a trend.

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