Proserv secures significant contract with Hess Corporation
Energy services company Proserv has secured a major contract win worth in excess of USD 20 million, underpinning the company’s fast-evolving international footprint and market-leading status in the subsea arena.
This latest award by Hess Corporation is for the provision of a 12-well subsea control system along with associated topside and subsea interface equipment for the deepwater Stampede development, situated in the Gulf of Mexico.
Work for the project will be carried out in various Proserv subsea service centres and technology hubs around the world, reinforcing the company’s strong inter-regional capability. The design and manufacture of the subsea electronics modules (SEMs) and subsea control modules (SCMs) will be carried out by Proserv’s team of subsea experts in Great Yarmouth, UK, with Proserv’s Trondheim facility in Norway providing technical support. Final testing, servicing and the integration of equipment will be carried out at Proserv’s new dedicated controls facility in Houston, USA.
The systems will be delivered to the client in a phased approach throughout 2015 and 2016 in line with key project milestones.
Proserv has a long-standing relationship with Hess Corporation and over the past three years has secured work with the operator which, including this latest award, is estimated to be worth around USD 35 million. These activities included providing subsea controls equipment and services for Hess Corporation’s Tubular Bells field, a fast-track project that has just announced first production, and Hess GoM brownfield projects.
David Lamont, Proserv CEO, said: “This is a significant win for the company that highlights the strength of our technical and engineering expertise as well as our market-leading status in the subsea controls and communications field.
“Proserv has already worked with Hess Corporation on several projects and the award of this contract is testament to the strength of our relationship and their trust in our ability to deliver robust technology solutions and services on time and to the highest standards. We look forward to working with Hess Corporation in the successful delivery of this project and would also like to congratulate them on the expeditious production of first oil from the Tubular Bells development.”
Proserv, which operates worldwide across several regions, has a 40-year track record in delivering bespoke solutions for the energy industry, particularly in the drilling, production, subsea and marine market sectors.
The latest contract award builds on Proserv’s high-profile portfolio of clients and projects, and mirrors the company’s global success through contracts with major operators in other international provinces.
It also comes just weeks after Proserv was acquired by Riverstone Holdings LLC, a major US private equity investor with an impressive track record of backing independent operators and energy service companies.