DECOMMISSIONING & ABANDONMENT
Sustainable Subsea Disruptor Shares 10% Of Company With Employees
Legasea Ltd, the subsea engineering firm specialising in circular economy applications for the energy sector, has implemented an Enterprise Management Incentive (EMI) scheme and increased its total share pool by 10%, with all new shares allocated for employee ownership. This initiative reinforces Legasea’s commitment to both employee engagement and sustainable practices in the subsea sector.
Since its establishment in 2018 by Managing Director, Lewis Sim, and Operations Director, Ray Milne, Legasea has grown from a two-person startup to a team of twenty-six, now supporting clients across twenty- five countries on six continents. The company’s approach to subsea equipment reuse provides tangible benefits in cost reduction and environmental impact.
“Our team members are fundamental to our success and our sustainability mission,” said Operations Director Ray Milne. “This ownership stake creates a direct link between their contributions and our overall performance. When we started this business aſter seeing good equipment being unnecessarily wasted, we wanted to build a company that genuinely valued both people and resources. The EMI scheme is a practical step toward that vision.”
For Legasea’s employees, the scheme provides potential long-term financial benefits. As the company continues its planned growth trajectory— with projections to increase staff numbers to thirty-five by end of 2026—these share options represent a meaningful addition to the company’s compensation structure.
The EMI scheme complements several other employee initiatives implemented over the past year, including private medical care,
Legasea Technicians – Front Leſt to Right -Owain, Katie, Seun, Lewis & Alec
enhanced pension benefits, salary sacrifice electric vehicles, and on-site EV charging facilities—all aligned with Legasea’s integrated approach to staff wellbeing and environmental responsibility.
The environmental benefits of Legasea’s operations are quantifiable: refurbishing a single Subsea Tree prevents approximately 82.4 tonnes of CO2 emissions by eliminating the need for new steel production.
With approximately 850 such trees installed in the UK North Sea alone, and more than 6,400 installed globally, this circular economy approach is reducing carbon emissions significantly across the sector. To date, Legasea has managed projects relating to over sixty decommissioned Subsea Production Systems, delivering both environmental benefits and practical advantages in terms of cost and lead- time for operators.
“The energy sector is gradually adopting more circular economy principles,” added Ray. “Our clients are finding that responsible resource management and operational efficiency work together effectively when existing assets are properly evaluated and refurbished.”
The employee ownership model represents an important development in Legasea’s ongoing growth—from a Scottish startup founded by two colleagues concerned about industry waste to a global provider of sustainable subsea solutions.
+44 1224 058040
info@legasealtd.com
www.legasealtd.com
May Issue 2025
www.sosmagazine.biz
27
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