Subsea services provider N-Sea has cheered rising annual sales on the back of major new client wins.
The group has reported “substantial” commercial growth across its bases in Aberdeen, the Netherlands and the Middle East, after completing more than 1,500 vessel days throughout the year.
N-Sea, which specialises in subsea services for the renewables, oil and gas and telecomms/utilities industries, touted success in the North Sea as it secured long-term frame agreements with a number of international oil and gas operators, including three new key clients.
A growing sales pipeline has led to a string of new hires at the company’s Aberdeen office, with recent projects comprising air diving inspection, repair and maintenance, as well as light construction requirements.
N-Sea’s Dubai base, which has helped to establish its presence in the Middle Eastern market, won a record $20 million (£15.2m) worth of new contracts in 2019, growing by 500 per cent year-on-year.
This includes landing work in Libya with a tier-one contractor and conducting pipeline decommissioning and installations in Abu Dhabi, with the division currently working on saturation diving and air diving scopes in Egypt.
The group boosted its Dubai headcount from two to 15 staff.
'Expanding into new regions'
Asa Gamble, managing director for N-Sea in the Middle East, said such progress “signals our growing presence in the Middle East market and we will continue to expand our office staff”.
N-Sea also expanded its survey capabilities this year, completing a €2.7m (£2.3m) survey and unexploded ordnance (UXO) identification project for a green energy group as well as investing in its existing joint venture with UXO specialist Bodac to further develop and fomalise its offering.
This comes alongside investment in its Netherlands-based data centre, which in August received a €1.8m upgrade designed to give the company one of the “most effective, secure and future-proofed” storage systems in the industry.
N-Sea chief executive Arno van Poppel said: “N-Sea has an extensive track record throughout its range of services and provides one of the most comprehensive integrated energy services available.
“Investments in cable repair, storage and PLIB [post lay inspection and burial] solutions, as well as scour protection, will allow the company to further consolidate its presence within current marketplaces, whilst expanding into new regions.”