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Siemens invests in subsea water technology

20th March 2012

German company purchases oil and gas specialists’ subsea components division.

Seimens expands its underwater technology portfolio

Siemens is buying up part of UK oil and gas specialist company, Expro Holdings UK, to meet the industry's growing demand for underwater power lines.

Around EUR 470m will be invested in the Connectors and Measurements Division of the Scottish company to expand its delivery of subsea components such as cable connectors, sensors and measuring devices.

This equipment forms a crucial part of the power grid that Siemens is currently developing for use on the sea bed at depths of down to 3,000 meters, said the Munich-based company in a statement.

“Extracting and processing oil and gas at depths down to 3,000 meters would be unthinkable without a reliable power supply directly on the sea bed”, said Seimens.

The acquisition “will make it possible to process oil and gas exhaustively and economically on the sea bed, where the components are exposed to high pressures of up to 300 bar (300 kg/cm2)”, it adds.

Deep-sea applications are one of the fastest-growing market segments within the oil and gas industry. The market volume is expected to reach two billion euros by 2020.

Subsea power grids will serve various power consumers such as compressors or pumps operating in the deep sea.

By March 2011, Siemens had acquired the two Norwegian companies Bennex and Poseidon to expand its underwater technology portfolio.

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