Energy, Good for Business, Investments, Lithuania, Oil, Transport

As part of the Composites Energy Solutions concern, CSUB specialises in manufacturing oil and gas equipment and developing technologies for this field. Among the customers of the company are large companies such as British Petroleum, Statoil, and the French company Total.

It is planned that the division established in the Port of Klaipeda will produce GRP (Glass Reinforced Plastic) structures and components for offshore subsea installations. Until now, these products were made in Norway.

According to Karl Tore Pedersen, Chairman of CSUB, the company became interested in Lithuania after seeing talented Lithuanians in Norway more than a decade ago: “We were extremely satisfied with their work and as a result we started cooperating with Lithuanians to attract more employees from Lithuania. The quality of their work prompted us to give Lithuania more than a cursory glance. We saw it as being a country that is culturally and geographically familiar to Norway”, Mr. Pedersen said. “Moreover, Lithuania can offer an ice-free seaport, which is very important for us as we deliver all products by sea.”

According to the Lithuanian Economy Minister Evaldas Gustas, the coming of CSUB to Lithuania is a compliment to our country and a great opportunity: “This company pays an exceptional attention to research and development activities in the field of oil and gas extraction. Therefore, Lithuanians working there can draw from the Scandinavian working culture and new skills”, Mr. Gustas stated. ”Companies such as CSUB are strategically important to Lithuania, and as a result we strongly support their establishment and expansion in every way possible”.

Since 2003, CSUB has allocated more than EUR 3 million to research and development. Until recently, all research activities used to be carried out in Norway, but it is expected that cooperation with the institutions of higher education in our country will positively influence the expansion of research in Lithuania too.

According to Mantas Katinas, Managing Director of Invest Lithuania, the country’s foreign investment development agency, oil and gas extraction companies are showing active interest in Klaipeda County due to ice-free harbour, talent pool available and Klaipeda Free Economic Zone, which offers 0% tax on profits and dividends.

“Upon establishment of the division in Klaipeda, a number of Lithuanians who had until then been working at the company’s divisions in Norway returned to Lithuania. Several generations of the same family, parents and children, are choosing to work there. CSUB demonstrates outstanding abilities of employee attraction and retention thus showing that it is ready to tap into talent pool with 15% of engineers that Klaipeda can offer”, adds Mr. Katinas.

Invest Lithuania has already attracted 13 foreign investment projects in 2015, which will create a total of almost 1,500 new jobs.