Optime Subsea signs framework agreement with Wintershall Dea
23 February 2023 – Optime Subsea signed a long-term framework agreement with Wintershall Dea regarding rental of the technology company’s remote-controlled subsea well completion and intervention systems.
Under the scope of the agreement, Wintershall Dea will rent three Remotely Operated Controls System (ROCS) including its universal landing string system (panpipe), and two wireless electric subsea control and intervention systems (eSCILS) from Optime Subsea. The latter will also provide technical service personnel to support Wintershall Dea’s operations.
The framework agreement is valid for a firm period of three years plus two additional two-year options (3+2+2). If both option periods are exercised, Optime Subsea estimates that the contract could generate total revenues of around NOK 500 million.
Jan-Fredrik Carlsen, CEO of Optime Subsea.
“This contract manifests our position as the leading global supplier of
remote-controlled well completion and intervention systems. Our solutions are
tailored to simplify subsea, entailing less equipment offshore, lower weight,
less logistics, lower HSE risk, lower emissions and lower costs. We look
forward to supporting Wintershall Dea in achieving this,” says Jan-Fredrik
Carlsen, CEO at Optime Subsea.
Wintershall Dea will utilize the ROCS and eSCILS equipment at its operated fields on the Norwegian continental shelf.
ROCS and eSCILS
The ROCS is a fully battery-powered and umbilical-less system for well-completion operations. ROCS eliminates the need for the costly and heavy umbilical that normally runs from the topside to seabed to control the tubing hanger during completions, which also means that a large topside hydraulic unit is not required. In total, this avoids mobilization of approximately 50 tonnes of topside equipment. Further, ROCS is mobilized in a single basket, prepared and
made up onshore, allowing it to be ready to run immediately when offshore, from
a rig. In addition, the ROCS will be supplied with Optime Subsea’s universal landing string system (Panpipe), capable of being sheared and sealed on all its length.
The eSCILS is a battery-powered and umbilical-less subsea access device for well interventions and workover operations. eSCILS is lowered down to the seabed next to the well and can be connected to any type of subsea tree. A computer is all that is needed for a topside control system, no additional rig equipment is needed. With a footprint as little as 3,5 x 2,5 meters, eSCILS can be transported to and from the rig on a ship and be mobilized and demobilized in one day. As a result, operations can be done significantly safer, faster, and more cost-efficient than conventional solutions.Optime Subsea will manufacture all equipment at the company’s headquarter in Notodden, Norway.
In 2022, Optime Subsea made an upfront three-figure NOK million investment to build ten similar ROCS systems. A North Sea operator ordered the first two systems, a West African operator the third, and now Wintershall Dea has secured the next three.
“The decision to make such a large upfront investment was based on our market position and interest received from operators globally, plus an attempt to manage supply chain constraints. Looking back, it was obviously an ambitious but smart decision. We expect to close contracts for the remaining four systems during the next six months,” adds Jan-Fredrik Carlsen.
Optime Subsea has offices in Notodden, Norway, and Houston, Texas. Over the past five years, the company has established itself as a leading specialist on subsea intervention and controls systems globally.
For further media information, please contact:
Anneli Stenman, Marketing & Communications manager | Optime Subsea AS, e-mail: email@example.com | Tel: +47 906 35 305.