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Start-up seeks to disrupt subsea technology market

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Oilfield Technology,


Following the successful sale of Ecosse Subsea earlier this year to Oceaneering, subsea entrepreneur Mike Wilson, together with an experienced management team, has now launched EIP (Ecosse IP Ltd) with start up investment of £2 million. The new venture seeks to transform the subsea sector with the development and launch of a range of exciting and disruptive technologies.

Start-up seeks to disrupt subsea technology market

Targeting rapid growth, with offices in Brathens Eco Business Park in Aberdeenshire, Scotland, as well as a modern R&D workshop and a yard for technology trials, EIP will work with global operators and supply chain companies.

The company’s first technology to market, Ambient Lifter (pictured), offers a safe, robust and controllable subsea lifting solution, providing customers with an alternative to the use of lift vessels. With the ability to operate stand-alone or in conjunction with traditional methods, this product was heralded as a key emerging technology for the Oil and Gas Industry at a recent Decom North Sea Conference. It aims to improve efficiency in subsea construction by 25 – 30% and on decommissioning debris clearance by 35 – 40%.

Speaking about the launch, Wilson said: “We understand the pressures the industry is facing; the need to be forward thinking while managing costs.”

He added: “Customers need to find new ways of subsea working which reduce cost and minimise risk. EIP is committed to finding new alternatives that can really help transform the industry – with our mantra ‘there is always a better way”.

Dorothy Burke, EIP’s Managing Director, said: “EIP is about our people and a pioneering approach to problem solving. Our unique combination of patented, proven technology, market-leading expertise and an experienced team will help us build a global presence in subsea innovation and technology leadership”.

With the ability to address challenges across subsea lifting, subsea construction, decommissioning, offshore renewables, salvage and military applications, EIP aims to solve operator efficiency challenges and offer competitive advantage to supply chain partners.

The team of six is set to double in 2019, and targeted to reach 40 by 2021. EIP will formally launch at an industry event in Banchory, Scotland, today after a successful week of product trials.

During harbour trials, Ambient Lifter successfully lifted 5Te in controlled lifts in a range of different configurations. The trials demonstrated the use of Ambient in realistic operating conditions and showed its capabilities to offer an adaptable lifting solution in varying weather and tide states.

The trials were witnessed by OGTC (Oil and Gas Technology Centre), who provided support for the trial process and see Ambient Lifter as an important technology for cost-effective subsea development of marginal fields.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/04102018/start-up-seeks-to-disrupt-subsea-technology-market/

 

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