In the last couple of months CUT UK has been awarded 10 contracts from various clients, resulting in a very busy project outlook for 2022 and beyond.
The contracts are for jacket cutting, topside cutting, conductor, caisson, pipeline and riser cutting projects in the North Sea. These projects are expected to generate revenue of +£3m in 2022. CUT is on course to grow the business by 29% in 2021, which builds on growth of 69% in 2020.
CUT has 40 years’ experience in providing off-the-shelf and bespoke diamond wire cutting solutions and has been involved in most of the major decommissioning projects globally, including the Brents, Miller, Murchison, Tyras, Ninian, Brae, Valhall and Arzanah Facility offshore Abu Dhabi. The world’s first ever ROV diamond wire machine was designed, built and operated by CUT’s parent company, and we have completed over 1,000 projects and over 7,000 cuts from our bases in the UK, UAE and Singapore. In 2020, CUT successfully completed the world’s largest ever subsea diamond wire cut on the Brent Alpha legs (7.3m diameter) and we are on schedule to break that record in the future.
CUT is currently recruiting for additional workshop staff and offshore operators, and has placed orders with local companies for additional ancillary equipment such as Electric HPUs (in order to reduce the carbon footprint of offshore operations). In addition, CUT is currently manufacturing additional, new, bespoke machines capable of performing our patented step/castellated cuts. This cut mitigates the danger of platform legs shifting or having horizontal movement relative to the bottom part once cut, providing structural stability while the top part of the platform rests on the bottom part. This CUT UK patented method of cutting tubular members makes it possible to cut platform legs with the utmost safety and within the timeframes required for cutting each leg, without compromising the stability of the structure and the success of the operation. CUT will be completing a number of these projects in 2022.
Bruce Sinclair, business development manager, said: “Within our market we have not seen any slowdown. Growth of 69% in 2020 has been followed by growth of 29% in 2021, and we expect 2022 to be a very positive year. With our services, the impact of any delays or failure are significant, so the end client has to know that the diamond wire cutting will be completed by professionals. The track record, experience and knowledge gained from our 40 years of cutting provide that peace of mind. Even when we come across unexpected materials, thicknesses, or internal objects, we have still been able to complete the cut. There is no substitute for field proven equipment, operated by highly experienced personnel”.