The circular economy is alive and well in the oil & gas sector.
With its innovative Legacy Locker, J+S Subsea has developed an open industry portal for the reuse, refurbishment and recycling of subsea equipment.
The online platform has been running successfully for five years now and acts as a marketplace for both procurement and disposal.
It fulfils the dual purpose of avoiding a huge amount of fully functioning equipment being sent for scrap while giving access to all the spares that businesses need to maintain production.
With much of the existing offshore infrastructure now beyond its design life, Legacy Locker offers a fresh, sustainable and collaborative approach to the challenge.
It allows companies to realise the economic value of existing, unwanted capital equipment by providing somewhere to buy, sell or trade unwanted stock.
As well as making a persuasive economic argument, the Legacy Locker helps reduce waste to a minimum which in turn reduces pressure on the environment while keeping scarce raw materials in the economy where it’s possible.
Introducing a circular economy model also increases competitiveness, innovation, growth and jobs.
Managing director Phil Reid said: “The Legacy Locker doesn’t represent a physical store full of old kit.
“It’s a dynamic marketplace that delivers solutions for owners of obsolete equipment as well as those looking to overcome supply and support problems and extend the life of assets.
“Not only is it where you can find equipment to buy, rent or use and replace for urgent jobs, it’s also an engineering service to test, refurbish, re-certify or reverse-engineer obsolete items.
“J+S Subsea didn’t develop the platform as brokers. We add value into the process by design, manufacture and testing so that the solutions we provide are reliable and last.
“We know our clients’ assets and pinchpoints and that lets us intelligently source and stock equipment that allows us to deliver solutions time after time.”
You can find out more here.