OSLO, Norway – Fuglesangs plans to spin-off its subsea pump business into a newly formed company called Fuglesangs Subsea. US private investment company Freebird Partners will provide equity investment.
Fuglesangs Subsea has developed proprietary pumping technology for subsea drilling and production systems. It is currently in two subsea pump qualification projects for major oil companies, one being the world’s first seal-less subsea process pump.
Initial focus will be on accelerating application of the pumps and pumping systems for use in subsea processing, top hole, riserless, and managed pressure drilling applications, and on expanding Fuglesangs Subsea’s specialty pump service to include deepwater decommissioning, dredging and excavation.
The new company additionally will work on subsea pumping applications requiring energy output of 1 MW or less, and directed at single-phase production, fluid boosting, water injection and displacement, solids and cuttings transportation and other subsea pumping of drilling fluids, slurries, seawater, chemicals, hydraulic fluids, and hydrocarbons.