An operator cancelled a complete subsea field development and was planning to scrap 5 off subsea umbilicals. All equipment was new and unused.
Evolve Surplus took ownership of the product, transpooled them on to new reels, and prepared the equipment for loadout to another operator.
Evolve Surplus took ownership of the product and in parallel to the storage and maintenance, identified potential OpCos/projects that had a requirement for the assets and that would benefit from a minimal lead time. The products were transpooled on to new reels, completed testing in accordance with the new owners’ requirements, prepared the equipment for loadout and shipped the delivery reels back to the product manufacturer.
The owner of the surplus EHU was able to monitise the surplus equipment held in stock and the new owner was able to source new subsea production equipment at a reduced project budget estimate cost and zero lead time.
