Enpro Subsea receives PE funding for development of production, intervention technologies

1/25/2018

ABERDEEN -- Enpro Subsea has secured investment from EV Private Equity (EV) to grow its production optimization business into new and existing international markets and further develop its range of production optimization and intervention technologies.

The Aberdeen-headquartered subsea company has grown its product portfolio and client base rapidly since foundation in 2011. Enpro enters 2018 with projects currently ongoing in the UK Continental Shelf, West Africa, and Gulf of Mexico.

The deal will see the business receive backing from EV Private Equity as part of its pledge to invest $200 million into fast-growing North Sea businesses.

The cash injection from EV will allow Enpro to further develop the patented flow access module (FAM) technology as well as capitalize on the success of the flow intervention services (FIS), and decommissioning systems.  

Enpro Subsea managing director, Ian Donald, said: “The funding will support the expansion of the FAM production and intervention system which enables capital efficient, future proof and flexible field development using standard subsea hardware. Additionally, Enpro will accelerate global deployment of the FIS hydraulic intervention rental system targeted at high pressure, deepwater fields."

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