MDL Invests $9M to Expand Its Flexlay Asset Range
Back-deck engineering specialist Maritime Developments (MDL) has committed $9 million (£7 million) of capital investment to expand its flexlay asset range.
The investment covers six new pieces of modular equipment in MDL’s portfolio, including high-capacity tensioners and reel drive systems, as well as the most recent innovation - Wheeled Horizontal Lay System (WHLS).
The Wheeled Horizontal Lay System, unveiled by MDL in 202, has already delivered the maiden unit to an offshore contractor in Brazil where it has been operational for riser recovery from deep waters in the Santos Basin.
The compact system will integrate with MDL’s wide four-track tensioner range and can be applied for both decommissioning and installation scopes, delivering the tensioner’s full line pull capacity without being limited by the capstan effect – the friction and drag observed with chute-based solutions which significantly reduce the system’s retrieval capability.
The combination of MDL’s high-capacity tensioners and WHLS creates a lay and retrieval package applicable for a wide range of flexible products, including cables and SURF, deployable in deep waters off vessels of opportunity.
The new additions will also include MDL’s Generation 3 Reel Drive System, which allows for reel-based operations on smaller vessels or constrained back decks.
“This significant investment from MDL shareholders is a sign of their belief in the company and commitment to our clients, to enable them to progress with their complex scopes in highly competitive and transitioning markets,” said Andrew Blaquiere, MDL Managing Director.
The investment comes off the back of significant growth in the business over the recent years, fuelled by increased global brand recognition for MDL’s Integrated Project Services, surge in overseas orders as well as long-term contracts with established clients.