Sub Sea Services have been awarded a 20+ MNOK contract from a major Drilling Contractor for fabrication of drilling products with delivery 2.nd quarter 2019. 

The drilling equipment will be delivered to a harsh environment dynamically positioned semi submersible drilling, completion and workover vessel. 

“This is an Engineering Procurement Construction (EPC) contract that we have been hunting for several months and finally secured the contract,” states Chief Commercial Officer Jostein Kvamme. “This contract award clearly show our capability as a strong vendor in this market segment.”

Sub Sea Services have a portfolio of over 50 products and have made a wide range of specialty drilling equipment. Since the downturn in the oil industry, traditional IMR contracts have reduced but the SSS OEM products and service have secured work in a scant market.   

“As an OEM company, we have a strong product portfolio which give us an excellent position ahead,” states CCO  Jostein Kvamme.

Chief Executive Officer, Bernt Arne Breistein agrees with Mr. Kvamme. 

“Finally, the drilling market is showing signs of recovery and we believe that the willingness to invest in new products is returning,” states Breistein. “We believe that we will be in a good position when then market finally picks up. Our ability to deliver equipment both enhancing technology and rig efficiency have been and is our key selling point.”

The contract will utilize our fabrication sites in Kristiansund and Stavanger, and also use Rush Machining Tau and Jørpeland in order to deliver this large project on a short delivery schedule. 

 

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