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Siemens strengthens position in subsea power market

Oilfield Technology,

Siemens has entered into an agreement to acquire the two subsea specialists Poseidon Group AS and Bennex Group AS from Subsea Technology Group AS, Norway. Poseidon provides subsea marinisation, engineering and consulting. Bennex has about 160 employees in Norway (Bergen and Kongsberg), Scotland (Aberdeen) and the US and develops and manufactures subsea equipment mainly for power solutions.

The dilemma of demand growth exacerbated by mature field depletion is forcing oil and gas companies to exploit offshore fields farther out to sea at ever greater water depths. Full-scale subsea processing is a vital component in enabling the commercial viability of these fields that will be brought on stream in the coming years around the globe in places such the Americas and West Africa.

One of the main objectives of deep water seabed processing is to counter the enormous hydrostatic pressure, while closing the recovery gap compared to a traditional land based well. Siemens’ subsea power grid can be deployed in water depths of as much as 3000 m and is an enabler in closing this gap, opening the way for a more reliable and safer offshore production environment.

“The acquisition will add to Siemens’ capabilities, experience and credibility in subsea engineering, equipment marinisation, connection and penetration technology, which are the main elements required to integrate our subsea power grid solution,” said Tom Blades, CEO of Siemens Oil & Gas Division.

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