Presentation 2014 1
Group overview Advantec Holding AS 100% 40% Advantec AS Advantec Eiendom AS (real estate) 60% NTOS Holding AS Advantec Aberdeen Ltd. 60% 100% 100% 100% 100% 90.1% Advanced Machining Technology AS Advantec Elektro AS Advantec Houston INC Advantec Hammerfest AS Advantec Sensing AS 100% 100% NTOS AS AMT Lietuva (UAB AMT) Advantec Eiendom AS is a real estate holding company 2
Advantec at a glance: Unique capabilities and offering for the subsea market Leading independent life cycle IWOCS provider Life of field service offering Innovative subsea solutions Long-term customer base Modern infrastructure and facilities Broad electro-hydraulic competence base 3
History of growth through expansion of geographical footprint and successful project deliveries Company history and revenue development 2005-2013 New facility in Lithuania Advantec acquires NTOS Advantec established as an independent company Delivery of WOCS for the Alvheim field New Stord facility Rental business started Delivery of Chemical Injection Unit to the Tyrihans project Delivery of WOCS to Aker and ENI Nigeria Advantec Houston established Delivery of Yme rental WOCS system to GE Delivery of WOCS to Hild field for Total/Aker Delivery of WOCS for the Skarv field (BP/GE) Delivery of WOCS to Morvin for Staroil/ Aker Solutions Norvestor invests in Advantec Holding Delivery of 2 rental WOCS systems for Skarv & Alvheim Delivery of WOCS for the Skarv field (GE) Advantec acquires Sentech Advantec acquires Grov Elektro, Stord Delivery of MUX WOCS system to LWI vessel Skandi Aker Awarded contract for well control unit by Archer New offices in Houston and Stavanger opened Awarded 3 contracts for IWOCS rental systems Awarded rental contract for THRT Reel System to Dong Energy Advantec Aberdeen established Delivery of 1 st rental unit to the Gulf of Mexico Delvery of IWOCS for Balder Phase III Awarded contract for 20 Workover Reels + Backup Drums by Statoil/Aker New engineering/ workshop facility at Stord Advantec acquires AMT New facilities in Hammerfest and Stord IWOCS for Expro LS delivered 125t EH Reel System delivered to Brazil 7 IWOCS rental contracts awarded for projects on NCS, UKCS, GoM and other 2005 2006 2007 2008 2009 2010 2011 2012 2013P Revenues Employees 4
Advantec has invested in capabilities and infrastructure enabling an integrated oil and gas life cycle offering to a global customer base Enhancing product portfolio Building complete life cycle service offering Building state of the art infrastructure Building the electro-hydraulic system competence base Design and assembly of complete IWOCS systems for installation and workover Reels & umbilicals Well Control units Production HPUs Smart Drilling HPUs Test & Flush HPUs Machined components CI Modules Sensors/ penetrators IWOCS Rental Systems IWOCS Operation Support Site integration testing Storage and aftermarket support Completion & Specialist Services Calibration services and equipment rental Invested in modern facilities at Stord, Bergen, Stavanger, Hammerfest, Kristiansund Lithuania, Aberdeen and Houston Substantial build-up of internal resource capacity, number of employees growing 5x since 2006 5
Advantec Group Growth History 700 Revenue - NOKm 637 600 500 514 400 414 300 294 226 200 171 174 100 65 74 105-2005 2006 2007 2008 2009 2010 2011 2012 2013 2014B 6
Norway (7 locations, 2 planned) Stord (HQ), Stavanger, Ågotnes & Askøy/ Bergen, Hammerfest, Kristiansund, Sandnessjøen (planned), Florø (planned) Engineering & Production facilities Services Strong global footprint in key oil and gas hubs Klaipeda, Lithuania Production facilities Houston, USA Production facilities Service Aberdeen, UK Engineering & Production facilities Service Rio de Janeiro, Brazil (in progress) Perth, Australia (planned) Current Advantec locations Planned Advantec locations Advantec project locations (service & product) 7
Strong presence serving the Norwegian Continental Shelf Stord, Norway (HQ) Hammerfest Engineering and administration offices Recently opened (2012) 2 000 m 2 workshop area with modern machinery, calibration laboratory and storage facilities for equipment AMT facilities opened in 2013 Total Employees: 251 Sandnessjøen Stavanger Engineering and service facilities at Dusavik base Instrumentation of XTs, engineering & offshore service contracts Employees: 15 Ågotnes & Askøy, Bergen Modern workshop facilities for manufacture of HPUs, rentals & hydraulics service, pressure testing, inspection and cleaning Employees: 61 Hammerfest Florø (planned) Kristiansund Florø Bergen New and modern 30 NOKm workshop and service facility opened 2013 Employees: 4 Service base for hydraulics rentals and services. Maintenance & service for subsea tools Employees: planned 10-30 Stord Stavanger Oppegård (Advantec Sensing) Kristiansund Service base for hydraulics rentals and services. Maintenance & service for subsea tools Employees: 2, planned 10-30 Sandnessjøen (planned) Service base for hydraulics rentals and services. Maintenance & service for subsea tools Employees: planned 10-30 Current Advantec locations Planned Advantec locations 8
Facilities Stord, Norway 1 2 3 New office & workshop facilities with indoor test pit CNC machine & scanner for large volume hydraulic tube fabrication 5 Facility overview 3 1 4 2 General information Facilities include; New and modern Engineering and Administration offices Newly opened workshops: 2 000 m 2 [2012] and 1,700 m 2 [2013] Modern calibration laboratory Overhead cranes : 2x30T @ 11.5m, 1x12.5T@6m and 1x35T @10m Storage facilities for subsea equipment and systems Advantec, Advantec Elektro, and Advanced Machining Technology are all located at this facility 4 Outdoor test pits for shallow water testing Leasing contract Lease start Apr. 2008 Lease end May 2029 Area m2 Workshop 5,560 Location ADVANTEC s Head office located on the island of Stord, Norway, in close vicinity to the NorSea offshore supply base Local clients at Stord are Kvaerner Yard, Apply Leirvik and Wärtsilä 5 Deepwater quay facilities Annual lease cost (NOKm) 11.85 Landlord Advantec Eiendom AS Opportunity to expand area: The owner is Eldøyane Næringspark AS, and additional land is available. Storage (covered) 970 Outside area 13,150 SIT area (incl. in Outside area) 2,000 Office 2,800 Norway s main oil & gas capital, Stavanger, is 2 hours to the south, housing all major oil companies and many main contractors Bergen is 2 hours to the north, with large centers for offshore operation, and Norway s main subsea service hub (at Ågotnes). 9
1 2 3 Existing Workshop and Engineering facilities New workshop and engineering offices under construction SIT Facility Large indoor and outdoor storage facility Lease start* Apr. 2012 Lease end* May 2017 Annual lease cost (NOKm)* 2.8 Landlord Kirkwood Homes Investment Ltd Flexible storage facility through SSS Ltd. 1 Leasing contract Facility overview 3 4 2 Area Facilities Aberdeen, UK m2 Workshop 1,200 Outside area 2,400 Storage 25,000 SIT area 3,900 SIT Office 500 Office 800 General information The facilities include Engineering, & Administration facilities Workshop for fabrication, repair and service. Massive storage opportunities (up to 25,000 m 2 ) 3,900m 2 integrated external SIT testing facility for subsea Trees, Control Systems, Running Tools and IWOCS Systems. Large new Workshop and Engineering building is under construction, 3,000 m 2, with high and low bay crane 65T. Marked at the top of the photo (2) Location The Aberdeen facilities are located at Kirkwood Industrial Park, Inverurie, Aberdeenshire The site was formerly a Paper Mill, and is located 20 minutes from Dyce International Airport, Aberdeen, by the dual carriageway A96 The Aberdeen area contains all major UK based oil companies, contractors and oil service companies. Aberdeen is pivotal in securing business in the global subsea market *) Advantec Aberdeen has entered into an agreement related to facilities under construction for 15 years + 2 x 5 years options at GBPk 450 per year 10
Lease About Size Group facilities - Norway Advantec Stord NTOS, Bergen / Ågotnes NTOS, Bergen / Askøy Advantec Stavanger Advantec Hammerfest The facility at Stord consists of modern offices, workshops and storage facilities for design and engineering projects, fabrication and assembly, and integration testing of completed systems Subsea & Well Control Specialist Services Products NTOS AS is located at Ågotnes, the main Subsea engineering & service base in Norway, on the island of Sotra, west of Bergen, in close proximity to the Coast Center Base (CCB), and was acquired by ADVANTEC in 2013 Subsea & Well Control Specialist Services Products The NTOS Askøy Dept. is a subsidiary of NTOS AS at Ågotnes, and is located at the town of Kleppestø, north of Bergen Subsea & Well Control Specialist Services Products Advantec s Stavanger Department offers engineering, assembly, service and maintenance to the market in Norway s oil capital, and is located in the Dusavik Base, just north of Stavanger Subsea & Well Control Specialist Services Advantec Hammerfest was established in 2013, and moves into brand new and modern facilities at Lervigshøyden, just outside the Polar Base in the Arctic offshore hub of Hammerfest, Norway Subsea & Well Control Specialist Services Products Size: m² Workshop 5,560 Outside area 13,150 Storage (covered) 970 SIT area 2,000 Office 2,800 Size: m² Workshop 1,600 Outside area 1,400 Storage 450 SIT area 0 Office 750 Size: m² Workshop 215 Outside area 800 Storage 615 SIT area 0 Office 350 Size: m² Workshop 180 Outside area 0 Storage 0 SIT area 0 Office 155 Size: m² Workshop 1,015 Outside area 880 Storage Incl. SIT area Incl. Office 740 Lease start 2008 Lease end 2029 Lease start 1) 2009 Lease end 1) 2019 Lease start 2013 Lease end 2023 Lease start 2011 Lease end 2016 Lease start 2014 Lease end 2029 (NOKm) Annual cost 11.9 (NOKm) Annual cost 3.0 (NOKm) Annual cost 1.3 (NOKm) Annual cost 0.4 (NOKm) Annual cost 3.15 1) Leasing information for the main building. Parker store leasing period: 01.06.2011/01.06.2021 (start/end), Rental: 01.03.13/01.03.23 (start/end) 2) Advantec Eiendom has signed a letter of intent to sell certain properties with a 15 year leaseback with 2x5 year options 11
Lease About Size Group facilities - International sites Advantec Aberdeen, Scotland, UK Advantec Houston, Texas, USA AMT Lietuva, Klaipėda, Lithuania Overview Intl. facilities The employees of Advantec Aberdeen comprises highly competent individuals and teams with considerable experience in IWOCS, Xmas Trees, Risers and other high integrity Subsea equipment. Advantec Aberdeen Ltd was established in 2012 Subsea & Well Control Specialist Services Products Advantec has been present in Houston since 2008. Advantec Houston offers the entire package of technology products of the Advantec group, including IWOCS systems for sale or hire, operational support, aftermarket support, service and maintenance Subsea & Well Control Specialist Services UAB AMT Lietuva (AMT LT) was established in 2013 and is a fully owned subsidiary of AMT. AMT LT renders services within welding and sheet metal work, in addition to surface treatment and engineering to a wide range of industries Subsea & Well Control Specialist Services Products Size: m² Workshop 1,200 Office 800 Outside area 2,400 Storage (Up to) 25,000 SIT area 3,900 SIT Office 500 Size: m² Workshop 558 Outside area 0 Storage 0 SIT area 0 Office 200 Size: m² Workshop 3,000 Outside area 5,150 Storage Incl. SIT area Incl. Office 1,500 Lease start 2012 Lease end 2017 Lease start 2009 Lease end 2015 Lease start 2013 Lease end 2029 (NOKm) Annual cost 2.8 (NOKm) Annual cost 0.3 (NOKm) Annual cost 2.0 12
Market drivers Customer examples Specialist service offering examples Subsea & Well control offering Comprehensive offering catering to the entire O&G value chain Drilling Field development Production Workover and decommissioning Combined BOP and grease injection system Rotary drilling HPU BOP POD umbilical reels Offshore operational expertise and after market services IWOCS systems and related products Test & flushing HPU, launch & recovery system, etc, Offshore operational expertise and after market services Subsea production HPU Well head control panel Chemical injection system Offshore operational expertise and after market services IWOCS systems and related products Test & flushing HPU, launch & recovery system, etc, Offshore operational expertise and after market services Pressure testing and flushing Installation services Testing and calibration Mechanical completion Engineering services Mechanical completion Commissioning services Testing and calibration Project management support Inspection and cleaning of umbilicals Pressure testing and flushing Engineering services SIT (site integration testing) Equipment modifications Re-calibration Pressure testing & flushing Service support and consulting Storage of equipment Project management support SIT (site integration testing) Equipment modifications Re-calibration Pressure testing & flushing Service support and consulting Storage of equipment Project management support Drilling contractors Subsea Oilco s Yards Topside MMO contractors Drilling rigs X-mas tree installations Production platforms Subsea and Topside MMO Shell is a customer of Advantec Sensing 13
Customers Delivery model Advantec offering Advantec comprise of three main business streams Subsea & Well Control Specialist Services Products IWOCS Well Control Units Other hydraulic systems Completion & Project Support Services Equipment rental & Calibration Services Machined components Sensors & Penetrators Complete IWOCS systems for sale/rental Patented reel system WOCS operation support SIT testing Storage, spare parts, and maintenance Integrated BOP Control and Grease Injection modules in single WCU container Rotary Drilling Control HPUs Chemical injection modules Subsea Production HPUs Test & flush HPUs Cooling skids Project Management Multi-discipline engineering support MC & Commissioning MMO support Hydraulic testing & flushing services Re-calibration services Rental of Test instruments and equipment Re-certification of Pressure Relief Valves Welding & machining of subsea components Machining services for process, machinery and structures Onsite machining Construction & subcontracting Profile meters Water leakage detectors Water cut monitors HV/ HP electrical penetrators Engineering Engineering Engineering Engineering Engineering Engineering Engineering Fabrication Fabrication Fabrication Fabrication Fabrication Fabrication Fabrication Eq. rental Eq. rental Eq. rental Eq. rental Eq. rental Eq. rental Eq. rental Op.support Op.support Op.support Op.support Op.support Op.support Op.support Shell is a customer of Advantec Sensing 14
Subsea & Well Control services Subsea & Well Control services Design, fabrication and assembly After market services Design Fabrication & Procurement System assembly Storage & testing Operational support Aftermarket support Ad hoc services Modifications and upgrades In-house design of complete systems Synergies with Project Support Services in defining hydraulic system characteristics and requirements State-of-the-art component supply from certified vendors In-house fabrication of critical components System assembly, integration and testing at Advantec workshops in Norway, USA and UK System Integration Test (SIT) coordination services FAT testing System storage and deployment services Experienced IWOCS operators available for offshore rotation on-board the rig or vessel Spare parts supply Calibration/ recalibration services Certification / recertification Redeployment / commissioning Service, incl. testing and flushing Maintenance & storage Repair services Umbilical replacement Spare part installation and testing Refurbishment System modifications System upgrades to new version specifications, guidelines or standards System added functionality System added field (e.g. added Vilje functionality into Alvheim system) Advantec provides a broad range of high value after market services 15
IWOCS standard system components supplied by Advantec IWOCS (HPU and Master Control Panel) IWOCS container with accumulator, HPU and master control panel. Different sizes (15-30ft). Can be split into two containers. Remote Control Panel (RCP) Control panel stand with PC screen for normal operation of the IWOCS functions, replicates the Master Control Panel in the IWOCS container Workover Reels Advantec supplies a range of workover reels with DnV certified Reel Frames, drum, gear/motor and control system. The system has constant tension functioning and a reciprocating spooling system Local Shutdown Panel (LSP) Remote panel with shutdown buttons for initiation of Process Shutdown (PSD), Emergency Shutdown (ESD) or Emergency Quick Disconnect (EQD) Workover Umbilicals Workover umbilicals with end termination and connection systems for subsea end and reel end. Umbilical configurations are customized for to meet project requirements, and operational specifications UPS (Uninterrupted Power Supply) Battery power supply which provides emergency electrical power to the electronic control system in case mains power supplied by the rig is lost. Allows up to 1 hr of normal operation. Umbilical Sheaves Sheaves are supplied in a range of sizes and designs, customized to umbilical design parameters, design loads and safety criteria. Deck Jumpers Deck jumpers of many different configurations are supplied to connect the IWOCS to the Reel, and include electrical connectors and hydraulic couplers with Multiple Quick Connection (MQC) plates Umbilical clamps Umbilical clamps are supplied for fixing the workover umbilicals to risers; to drill pipe inside marine riser, to workover risers, or pod wires in open water configurations Test and flushing HPU A range of Hydraulic Power Units (HPU) which are used for and flushing (cleaning) and pressure testing of tubing in hydraulic systems, including Umbilicals Jumper and Sheaves Basket DnV certified transport baskets for Sheaves and Deck Jumpers are supplied in several sized to cater for Minimum Bending Radius of Jumper, and Sheave Sizes Test and flush plate MQC test plates for flushing and pressure testing of IWOCS container, Deck Jumpers and Workover Umbilicals. Are supplied with set of test hoses 16
Additional IWOCS system components supplied by Advantec Dirty Return System Return lines (hoses) in Workover Umbilicals which can potentially be contaminated and contain traces of hydrocarbons are routed to a Dirty Return tank, with aspiration system, gas detectors and alarms Launch And Recovery System LARS Deployment system with operation platform, A-Frame, HPU driven winch system with controls, for deployment of Subsea Baskets over the side of a vessel. Interfaces with a Workover Reel. Test WOCS units Test HPU & Control Panels for testing of the next X-mas Tree on deck while IWOCS container is used for installation & workover on subsea equipment Umbilical Guide Frame - UGF Running tool for open water deployment of workover umbilical. Contains hydraulic and electrical flying leads, operated by ROV. Contains guide funnels and hydraulic MQC plates with couplers and electrical connectors Umbilical Disconnect System Weak link system that is designed to break disconnect the Workover Umbilical in the event of a riser being disconnected, to protect the umbilical. Subsea deployment Basket Range of Deployment Baskets for various applications. The units may carry Subsea Flying Leads and a Guillotine system for emergency disconnect operation. Baskets are run on a separate winch Subsea Flying Leads Electrical and Hydraulic subsea jumpers with electrical connectors and hydraulic couplers, operated by ROV. Contains panels for docking of termination heads Test Stand for Subsea Control Module (SCM) Test Stand for function testing and testing of all interfaces of Production Control Module in workshop Manually operated IWOCS HPU and Control Panel skids Traditional design Hydraulic Power Unit (HPU) and Manually operated Control Panel Skids are available, as a low cost alternative Nitrogen booster Provides pressurized Nitrogen as driving gas to accumulator systems, inside IWOCS HPU and for subsea accumulators Workover Control Module - WOCM Subsea Control Module used for Multiplexed IWOCS systems, for deepwater fields. Includes electronic canister and pressure balanced hydraulic enclosure with Directional Control Valves (DCV) Subsea Accumulator Packages Subsea accumulators provide hydraulic power for normal and emergency operation. Many different sizes and configurations are available, for use in Workover or other applicaitons 17
Production Drilling Drilling, Production and Well Control products supplied by Advantec P & A Wireline control and Power Packs Drilling & Production products Workover and Decommissioning products HPU for Rotating Control Device - RCD Smart HPU used with Weatherford s RCD which maintains a pressure-tight barrier between annulus drill fluid returns and personnel, by diverting and containing the fluids, uninterrupted. More than 50 systems sold to Weatherford for use world wide Combined BOP & Grease Injection Unit BOP Control Unit and Grease Injection Unit for wireline operation on topside wellheads are combined in one unit to save deck space and manpower. Electro hydraulic system with Touch screen operation, qualified for arctic environment Umbilical Reels for Drilling BOP Pod Umbilical reels for electrical Downline (cable) that provides electrical power and commutation with subsea BOP Drilling Pods Subsea Production HPU Hydraulic Power Unit to supply hydraulic fluid through the production umbilical to Subsea Control Modules which control the subsea X-mas Tree and Downhole valves during production. The HPU provides safety (shutdown) functionality to SIL2 and SIL3 Local Control Panel & Termination systems Local control panels are available for a range of systems, including Wellhead Control Panels, Topside Umbilical Termination Units (TUTU) and ROV control panels for subsea applications BOP Control Unit Electro hydraulic control unit that operates and controls the RAM sets on the BOP during wireline operation on topside wellheads. Touch screen control, also allowing remote operation og Grease Injection Unit Grease Injection Unit Electro hydraulic control unit which provides a continuous grease overpressure to the wireline Grease Heads and Line Wipers etc. during wireline operation of topside wellheads. Electro Hydraulic Power Pack - EHPP EHPP units used as power packs for driving of hydraulically operated wireline winches. The systems are used for wireline operation of topside and subsea wells Chemical Injection System Chemical Injection Package for dosing and injection of chemical, such as scale inhibitor and flocculant fluids into the well stream from subsea production wells. for flow assurance. Enclosure built in aluminium for weight reduction Diesel HPU for Plug and Abandonment of wells Combination of hydraulic power supply, electrical power generation, air ventilation & cooling, packaged into a 17ft offshore container certified for Zone 2. The Unit is powered by a 600HP engine, and has a control system and Pyroban shutdown system and power disconnection 18
Specialist Services Specialist Services EPIC & MMO (Engineering, Procurement, Installation & Commissioning and Maintenance, Modifications & Operations) Specialist Services and Rental Project Management Multi Discipline Engineering Support Installation, Testing, MC & Commissioning Modification & Maintenance Test & Flushing services Rental Equipment and Instruments Ex-certification & Calibration Services Unique Site Facilities for Test & Storage Specialist Project Management resources in external projects, for the global oil & gas industry Experience from Drilling Platforms Production Platforms Onshore Process Plants and Terminals Subsea Projects Project Engineers and Discipline Engineers are available for oil & gas projects around the world. Work includes FEED studies, Detailed design & engineering Work preparation Follow-up on building sites Final documentation Long track record from participation in large fabrication and construction projects. Specialist services include System and Loop Testing, Mechanical Completion status Commissioning and Start-up. Multi discipline Modification & Maintenance projects: Engineering, Prefabrication, Installation and hook-up Testing, commissioning Hand-over to operations. Testing & Flushing of process pipes and tubing. Specialists are available for Chemical Cleaning Flushing Pressure testing ADVANTEC has rental equipment for such work Large rental pool of instruments and equipment for testing of systems and components. Calibration instruments Process calibrators Loop testing equipment Fiber optical equipment Technicians are available for performance of such work Ex Authorization: Re-certifiy ATEX certified electrical equipment after repair & modification Calibration service Calibration laboratories in several locations. Traceability to international standards. Site facilities Construction work and assembly Sites are particularly well suited for EFAT and SIT activities. Facilities available for long- or short term storage of client equipment and tools. 19
Products Welding & Machining of Subsea Components Products Machining Services Construction & sub-contracting Inlay welding Machining incl. repair Process equipment Machinery and structures Onsite machining Advantec products External projects Special Products High quality welding (lagging) of subsea components Mechanized & Manual Tig welding of high alloyed pipes, Duplex, Super Duplex, Nickel & Titanium based materials Flanged Pipe Spools, Tie-in tools, pressure caps, etc. High precision machining for the subsea market Machining of valve manifolds, pressure encapsulations and control module enclosures Repair & maintenance of subsea components Machining of process equipment which require special (or large) machines Pressure encapsulations, and caps, flanged connections and hubs, supports etc. Machining of components for machinery and structures Typical components include diamond screws and spooling apparatus, bearing housing etc. AMT has unique experience with onsite machining. Clients are main construction yards, rig- and ship owners Repeat orders for service and maintenance on submarines for Norwegian Navy Construction of structures for Advantec products, including containers and skids, reels, sheaves and transport baskets. Fabrication of structural components for external clients. Projects include mechanical jigs and stands, and other ad hoc designs provided by clients. Fabrication engineering as required Design and supply of special products to maritime market. Design and supply of hydraulic components for davits to life boat manufacturer Advantec provides a broad range of high quality welding & machining services 20
Advanced Machining Technology provides complex machined products to a wide range of customers Advanced Machining Technology Offering and customers Stord, Norway Klaipeda, Lithuania IWOCS components IWOCS Containers Workover reels Accumulator racks, sheaves, basket, etc Fittings, flanges, etc Subsea running frames Subsea tools and jigs Manufacturing of tools for assembly of Multiphase Pumps Advanced Machining Technology acquired by Advantec in 2011 The company provides machining services of complex offshore components to a wide range of applications Inconel welding (cladding) and machining high quality alloys Other customers Located in close proximity to Advantec at Stord, Norway. Facility opened in 2013 Facilities in Lithuania acquired in 2013 for low cost structural and welding offering, including painting - Modern and well equipped facilities built in 2008 21
Advantec Reels & Main Components Cover required by DnV Motor Bucket w/ Motor & Gear Umbilical Drum Pressure Indicator & Valve panel Spooling apparatus & diamons screws Bearings & Bearing Covers Air tubes, hoses and interlocks DnV certified Reel Frame Guiding System for Back-up Drum Local Control Panel Air regulator and dehumidifier Main features Reels dimensions and weight classes depend on length, geometry and payload of the Workover Umbilical Standardized sizes available from 5 to 50 tons Drums can be changed out to allow the same Reel Frame to be used for different umbilical configurations The construction and assembly is divided into standardized modules, shown in drawing PI a& Valve panels designed to fit umbilical configuration Remote and Local Control panel for normal and emergency operation Constant tension functionality 22
Oil service companies Oil companies Broad high-end customer base Supermajors National oil companies Large independents Small independents 6 out of 6 supermajors as customer* Subsea majors Oil service majors Internationals Norwegian 4 out of 4 subsea majors as customer 3 out of 4 oil service majors as client *) Shell is a customer of Advantec Sensing 23