June 29, 2016 — Houston, Texas — Viper Subsea Technology Limited (“Viper”), a UK-based provider of control system distribution services and products, was awarded a Queen’s Award for Enterprise in Innovation for its groundbreaking V-LIFE Electrical Insulation Resistance Improvement System. The Queen’s Award in Innovation is awarded following recommendation from the Prime Minister and was conferred on April 21, 2016, Her Majesty’s birthday.
V-LIFE was launched in 2013 and has become established as a key component in helping operators extend the life of their offshore fields. It has successfully been used to resurrect completely failed systems allowing fields to resume hydrocarbon production. The system has been deployed as far afield as Indonesia and Australia.
Oceaneering entered into a strategic relationship with Viper in August 2015 by purchasing a minority equity interest in the company. Established in 2007, Viper offers a range of engineering consultancy services and provides hydraulic, chemical, and electrical subsea distribution systems and equipment. In addition to the fast growing V-LIFE service, Viper continues developing new proprietary technology such as V-IR, which will allow customers to monitor, predict and mitigate against subsea insulation resistance failures.
Rod Larson, President of Oceaneering, stated, “We are delighted that Viper has received the prestigious Queen’s Award for Enterprise in Innovation. Since making our equity investment in Viper, we have been working together to offer our customers solutions to their subsea distribution needs during the development and production phases of the oilfield lifecycle. This award demonstrates the value Viper’s proprietary technology brings to the oilfield services industry and the sort of combined services and products Viper and Oceaneering can offer.”