courtesy Odim

Norwegian offshore equipment maker Odim has posted second-quarter net profit of NOK38.5 million, or 30 percent higher than the same three months in 2006 lifted by the boom in seismic.

Growing seismic fleets called for handlers of specialty equipment, Odim’s specialty, and revenues rose on the trend to a record high NOK322.4 million, or 49 percent better that Q2 2006. Company managers said Wednesday they expect the seismic surge to last well into 2009.

A major seismic order during the span with PGS added NOK110 million, and the orderbook accrued to NOK1.7 billion. Three orders came in for the trademark ODIM LARS underwater vehicle handler and two for trademark ODIM ARF systems.

With subsea looking “more promising than ever due to deep sea activity”, the company’s deepwater fibre-rope deployment kit, CTCU, have begun to show their worth.

The CTCU system permits mooring and construction in the deepest water. Smaller ships can lower fibre rope weighing 10 kg a a metre down to 4,000m water depths. Standard steel wire and chains weighing 120 kg/m can only be lowered to 2,000 m.

The deepwater advantage has encouraged the expansion of rig, anchor-handling and subsea-construction fleets.