Siemens Energy has acquired the Norwegian companies Poseidon Group AS and Bennex Group AS. „This acquisition is an important step for us towards becoming a leading supplier of energy solutions for subsea oil and gas processing,” says Tom Blades, CEO of the Oil & Gas Division.

STG, backed by the oil and gas specialist private equity investor HitecVision, has over the past 3 years built a diversified engineering, products and services company within subsea, drilling & well, reservoir and process disciplines. “HitecVision’s core business is to buy, develop and sell quality companies to the right buyer”, says HitecVision Senior Partner and STG board member Pål M. Reed and adds: “The strong strategic match between Siemens and Poseidon and Bennex will enable quicker realization of the companies’ development plans and the transaction should be very positive for employees, customer and owners”.

Poseidon, with about 140 employees and consultants in Stavanger (Norway) and Aberdeen (Scotland), specializes in marinization, engineering and technical consulting. Bennex, with some 160 employees in Norway (Bergen and Kongsberg), Aberdeen and USA (Houston), develops and manufactures subsea equipment mainly for power solutions, fiber-optics and seismic.

Subsea processing is the most rapidly growing application in the Oil and Gas industry. Depletion of onshore reserves and a mounting demand on the world market are forcing oil and gas companies to exploit fields in remote places at ever greater water depths. For this, Siemens offers a subsea solution encompassing transformers, switchgear and variable-speed drives, to power and control electric-drive pumps and compressors, and other processing equipment.

Tom Blades: „Our aim is to help the oil and gas industry to move towards safer and more reliable deepwater production“. The subsea hydraulic and electrical subsea distribution systems, fiber optic, electromagnetic and seismic applications supplied by Bennex add a decisive building block to our portfolio. The Poseidon engineers will marinize proven Siemens offshore portfolio for subsea applications, including subsea control systems, transformers, switchgears, electric motors automation and compressors along with other complementary elements such as subsea cameras and subsea electric valve actuators. Due to corrosive nature of the sea waterin combination with other factors like high pressure, subsea equipments and solutions have to be particularly robust.

This acquisition opens tremendous opportunities for Siemens Oil & Gas Division. “Not only can we sell our existing portfolio into a strong and growing future market, but also the acquisition will bring new capabilities, experiences and reputation to Siemens in subsea engineering, equipment marinization and electrical connector & penetrator technology, the primary elements required to form a solution based on in-house products,” emphasizes Tom Blades.

A complete Intervention WorkOver Control System (IWOCS)  was custom built in 2008.  The equipment has since been rented to various clients.  It is well maintained, in excellent condition and immediatly ready for rental or sale.

Key features:

• Redundant pneumatic HPU complete with accumulators, flushing loop system and tank;
• Umbilical reel with dual motor drive, on-board operator panel, remote control system and automatic spooling mechanism;
• 1300m electro-hydraulic umbilical, containing 1 quad and 7 HP lines;
• Umbilical sheaves to support umbilical;

The system is fully qualified for the Norwegian sector, certified to Norsok Z-015, DNV 2.7.1 and approved for Ex-zone operation. Please download our fact sheet: IWOCS.pdf

The subsea market is in a positive trend and Poseidon currently require staff engineers.  Please visit our vacancies page.

Professional development is vitally important to everyone in Poseidon. We want all our employees to achieve their full potential – that’s the only way we can hope to maintain our position as a preferred subsea partner to our customers . As a specialist there are many opportunities for a rewarding career.

• Subsea Systems and Equipment
• Structures
• Control Systems
• Marinisation
• ROV Tools
• Rental Equipment

The stand was well received and visited, and our new leakage detection system created a lot of interest.  Our subsea enclosures seemed also to be sought after. Our general impression is that the subsea market is in a positive trend.

Thank you to  all the clients, partners and suppliers that visitied us; both at the stand and in the harbour onboard “Oster”.

A versatile subsea leakage detection solution is now a breeze; using a subsea camera and a hydrophone

This is a quick, simple and cost-effective solution for monitoring suspected oil seepage points and listening for gas leakages.

The system uses Poseidon’s ROV installable instrumentation canister, enabling easy communication between topside systems and subsea sensors. The camera and the hydrophone is plugged into the canister (SIIS level 3 complaint), and will be online over Ethernet with minimal effort.

The solution has a modular setup which ensures flexibility. Thus, it has additional uses such as observing subsea equipment in general or monitoring sensitive operations. Please download our fact sheet: Leakage Detection.pdf

The workshop enable us to provide in-house assembly and testing services. This is an addition to the engineering services we have been delivering for several years.