Proserv lands subsea contract for Brazil projects

3/27/2014

Proserv lands subsea contract for Brazil projects

GREAT YARMOUTH, United Kingdom -- Proserv has been awarded its largest contract yet for subsea controls by a leading oilfield service company. The contract, which is worth around $40 million, will see Proserv provide nine subsea control systems to support deepwater workover controls services for several projects in Brazil up to 2,500 m water depth.

Overall project execution along with the engineering and build of the subsea control systems will be carried out at Proserv’s Great Yarmouth facilities in the UK. The company’s dedicated manufacturing facility in Johor Bahru, Malaysia, will deliver the accompanying hydraulic power units.

The systems will be delivered to the client in a phased approach throughout 2015 in line with key project milestones.

In February, Proserv announced it had acquired precision engineering firm KRG Industries, a well-established provider of machining, welding, inspection and testing services to the oil and gas, aerospace, and defence industries.

The deal comes several months after Proserv acquired Australian-headquartered Velocious, a subsea intervention and tooling company.

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