A firm is hoping to use its spot at this year’s Offshore Technology Conference (OTC) to boost sales and almost double its workforce.
Enpro Subsea, which specialises in technology aimed at boosting production, said it has just embarked on its most ambitious growth plan to date, hoping to double sales around the world by 2021.
The business, which is exhibiting at OTC 2019 in Houston this week, has supplied more than 50 of its subsea Flow Access Modules (FAM) to operators in key regions since the product was launched 2016.
And management now say the aim is to increase sales by a further 100% over the next two years in line with its international business plan.
It will also look to increase its workforce from 45 to 70 across its operational bases in Westhill, Houston and Ghana over the same period.
The company was formed in 2011 with five employees and aims to deliver cost-effective flexible solutions to enhance subsea production throughout the life of an asset. Managing director Ian Donald said: “To date, we have been primarily focused on delivering metering, flow assurance and hydraulic intervention solutions using our FAM hubs.
“But now we are looking at high-integrity pressure protection systems (HIPPs), pumping and data acquisition solutions using the same technology.
“FAM enables an open subsea architecture allowing any subsea processing hardware to be retrofitted on to any well, achieving standardisation with flexibility for our clients.
“Surpassing the 50-modules mark is one of the company’s major milestones to date.
“It has increased our visibility with both major and independent operators alike, potentially opening up new markets in new subsea regions.”
Mr Donald said with assistance from Scottish Enterprise, they recently completed a £1.5 million investment in their high pressure 15kpsi capable Flow Intervention System (FIS), due to undergo subsea trials later this year.
He added: “Together with our existing system currently operational in Ghana since 2017, this new system places us in a very robust position to further grow the business and expand our range of intervention services.”
In January last year private equity firm EV invested in the firm as part of a £140m pledge to invest in North Sea businesses which has allowed Enpro to further develop its FAM technology as well as build on the development of its flow intervention services.