Subsea 7 is investing more than £5.5 million (US $8.5 million) refurbishing its pipeline bundle site in northern Scotland, driven by increasing success with its bundle technology.
Established in 1978, the fabrication site near Wick in Caithness covers a total area of more than of 300,000 square metres, and has a sheltered bay in which to launch the pipeline bundles. The refurbishment programme will be carried out in two phases, and includes new equipment for five firing lines, a 230 m extension to the main fabrication shop, and a new office and welfare complex at the landward end of the facility.
The first phase, which began in 2012, is now complete with the second phase scheduled for completion in 2014.
Willie Watt, General Manager at the facility, said: “The increasing success of our bundle technology has been the main driver for this extensive refurbishment programme. Subsea 7 is experiencing its busiest ever period for bundle design/installation with eight bundles installed in 2011/2012, and a further eight installations confirmed for the period to Q2 2015.”
Recommended Reading
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
Woodside, Santos Scrap M&A Talks for $52B Combination
2024-02-07 - After nearly two months of due diligence and negotiations, Woodside did not offer a firm bid price for Santos, sources said.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
TotalEnergies Buys Majority Stake in Ecoslops Provence JV
2024-03-01 - TotalEnergies bought out its joint venture partner to become the sole shareholder in cleantech venture Ecoslops Provence.