Subsea Technologies Limited (STL) has won two new global contracts totalling £3.8M.
The North East Oil & Gas technologies specialist was awarded the first contract, worth £2.4M, by a major international service company, to whom it will supply a number of proprietary STL connectors over an 18-month period.
STL is a pioneer of products that solve subsea, well access and pressure containment problems. The company provides expert and industry leading guidance to assist clients with complex delivery requirements and has developed some of the world’s first, purpose built subsea well intervention technologies to uniquely address client needs. These include the Xtreme Release (XR) Connector and Stackable Lightweight Intervention Connector (SLIC).
The second contract award is testament to STL’s progressive growth, seeing the business awarded a further £1.4M agreement by a major operator. The project is scheduled for completion in 2017 and supply includes an upgrade to an existing SLIC connector and well intervention system. Faced with the challenge of a subsea grease injection system being required, but having significant integration issues, STL’s reputable technical expertise was sought to design an innovative and cost-effective solution to integrate comfortably with the client’s existing hardware.
The recent contract wins have also positively impacted the business in terms of recruitment, resulting in the appointment of ten new personnel and the internal promotion of several high performing individuals.
Managing Director Drummond Lawson said,
“We are delighted to have been awarded these two major contracts which we have worked very hard to secure.
STL aims to be a proactive supplier for clients, we work in partnership to understand client challenges and exceed their needs. The fact that both contract wins have been awarded by existing clients is demonstrative of STL’s commitment to high quality delivery. Our approach is underpinned by our reputable team, our unwavering focus on engineering and manufacturing robust and reliable products for the well intervention industry, and our outstanding quality management systems.
We look forward to working with and supporting our customers to deliver over the course of these projects and beyond.”
