DeepOcean Takes Over Equinor’s Pipeline Repairs Contract from TechnipFMC

(Credit: DeepOcean)

Ocean services provider DeepOcean has taken full ownership of the pipeline repair and subsea intervention (PRSI Pool Services) contract with Equinor, formerly operated in a joint venture (JV) between DeepOcean and TechnipFMC.

The transaction fortifies DeepOcean’s pipeline repair expertise with 26 JV employees being transferred to DeepOcean.

Since 2007 DeepOcean and Technip Norway have cooperated on the pipeline repair subsea operations contract with Equinor and the pool members - first with TechnipFMC as contractor and DeepOcean as sub-contractor. In 2014, DeepOcean and TechnipFMC engaged in a framework agreement with Equinor for maintenance, operations, and emergency preparedness through a JV that proved to be very effective.

As part of a recent joint agreement with TechnipFMC, DeepOcean will take over the contract with Equinor for the remainder of the contract period.

“DeepOcean is very excited to expand our competence and capacity in this highly complex and specialized area. The technology involved is world leading and we are extremely proud of the accomplishments achieved. We look forward to supporting Equinor and the PRSI Pool members going forward”, said Olaf A. Hansen, Managing Director of DeepOcean Europe.

Equinor has operational responsibility for the world's most extensive subsea pipeline system for transportation of gas as the technical operator of the PRSI pool.

The PRSI pool consists of over twenty energy companies that cover their offshore pipeline and power cable repair contingency via the pool.