Aberdeen-based Enpro Subsea (
www.enpro-subsea.com) has secured investment from EV Private Equity to expand its production optimisation business into international markets and further develop its range of technologies.
The sub-sea company, which was founded in 2011, has projects currently on-going in the UK Continental Shelf, West Africa and the Gulf of Mexico.
This cash injection will allow it to further develop its patented flow access module (FAM) technology and to capitalise on the success of its flow intervention services (FIS) and decommissioning systems.
Managing director Ian Donald said: “2017 was a good year for Enpro Subsea, with strong global demand for all our core technologies. Starting 2018 with news of our partnership with EV Private Equity is exciting.
“Coupled with a robust order book for our FAM, FIS and decommissioning technologies, the investment puts us in a strong position to deliver the next stage of our business growth strategy.
“The funding will support the expansion of the FAM production and intervention system, which enables future-proof and flexible field development, using standard sub-sea hardware.
It will also accelerate global deployment of the FIS hydraulic intervention rental system— targeted at high-pressure deep-water fields.”
Greg Herrera, senior partner at EV, said: “We are thrilled to partner with Enpro Subsea and help build upon their successful track record.
“The management team at Enpro have distinguished themselves through their relentless commitment to delivering successful technologies and projects to their clients around the world.
“They have a winning business model, which represents a fantastic business opportunity in line with EV’s portfolio of oil and gas companies.”