Optime Subsea Services is a newly established subsea oil and gas services company founded by DeepOcean and a group of former employees of FMC Technologies Inc. (FTI), a May 12 release said.
Optime Subsea Services develops its own technology and provides services within subsea intervention, installation and workover operations. Its technology strategy intends to be as simple as its technology—challenge the traditional solutions to deliver significant operational cost savings for the operators.
DeepOcean has invested several million Norwegian kroners to acquire a stake in the company, the release said.
The company focuses on penetrating the market with two technological step-changes—the multiCompletionSystem (mCS) called Light Completion Intervention System (LCIS) and the Remove Operated Completion System (ROCS) for future installation of tubing hangers on subsea trees.
Its mCS can provide up to 80% time and cost savings on subsea tree installations compared to traditional solutions, the release said.
Jan-Fredrik Carlsen, Optime Subsea Serivces CEO, said in the release that one of the company's solutions can save between US$1- to $2 million per vertical subsea tree installation.
The company has offices in Houston and Notodden, Norway.
Recommended Reading
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
TechnipFMC Eyes $30B in Subsea Orders by 2025
2024-02-23 - TechnipFMC is capitalizing on an industry shift in spending to offshore projects from land projects.
NOV's AI, Edge Offerings Find Traction—Despite Crowded Field
2024-02-02 - NOV’s CEO Clay Williams is bullish on the company’s digital future, highlighting value-driven adoption of tech by customers.
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.
ProPetro Reports Material Weakness in Financial Reporting Controls
2024-03-14 - ProPetro identified a material weakness in internal controls over financial reporting, the oilfield services firm said in a filing.