Siem Offshore in New Offshore Well Intervention Vessels Deal

MarineLink.com
Wednesday, February 12, 2014
MODU vessel rendering courtesy of Siem Offshore

Siem Offshore Inc. say they have signed agreements with Helix Energy Solutions Group, Inc. to provide 2 well-intervention vessels which will be owned by Siem Offshore and chartered by Helix for an initial period of 7 years, with options that can extend the charter periods up to 22 years.

The two vessels will be constructed at the Flensburger shipyard in Germany for Siem Offshore, and will be based on a design developed by Salt Ship Design. They will have an overall length of 158 meters, a beam of 31 meters, and are to be constructed in compliance with rules for MODU-class (Marine Offshore Drilling Units).

Siem Offshore inform that the aggregate project cost for the two vessels is expected to be approximately US$ 420 million. Siem Offshore will finance the aggregated project cost for the two vessels by a combination of mortgage debt and bond issue. Helix will provide the topsides and manage the integration of the well-intervention equipment on to the vessels.

In turn, informs Siem, Helix has entered into agreements with Petróleo Brasileiro S.A. (“Petrobras”) to provide well-intervention services offshore Brazil for an initial period of 4 years with options to extend. The first vessel is expected to be in service for Petrobras by mid-2016, with the second vessel to follow later the same year.

Terje Sorensen, Chief Executive Officer of Siem Offshore, comments: “The agreements with Helix represent a targeted entry for Siem Offshore as vessel provider into the segment for Well-Intervention Vessels. Helix and Siem Offshore will capitalise on Siem Offshore’s excellent experience and position in Brazil to support Helix in their operations for Petrobras."

www.siemoffshore.com

 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

'Double Jeopardy – Trial by Media, Trial by Law' London Opening

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought

Week's Ocean-Going Shipbuilding Orders Sparse

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin,

Contracts

Maersk Drilling Q2 2014 Profit Dips

Maersk Drilling informs that in Q2 2014 it delivered a profit (NOPAT) of USD 117-m (USD 150-m). While the underlying operational performance remained strong with an operational uptime of 97% (96%),

Week's Ocean-Going Shipbuilding Orders Sparse

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin,

DSME Gets UK Shipyard Consulting Contract

S. Korea's DSME says it is to provide naval vessel production and management consulting services for British defense company BAE. Under the terms of the agreement,

Shipbuilding

Week's Ocean-Going Shipbuilding Orders Sparse

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin,

DSME Gets UK Shipyard Consulting Contract

S. Korea's DSME says it is to provide naval vessel production and management consulting services for British defense company BAE. Under the terms of the agreement,

Two MacGregor Subsea Cranes Ordered for Chinese PSVs

MacGregor, part of Cargotec, has secured a new contract from Chinese shipbuilder, Fujian Mawei Shipbuilding Ltd., for two 100-metric-ton active heave-compensated subsea MacGregor cranes.

Offshore Energy

Lloyd’s Register's New, Consolidated, Rules for Offshore Units

Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry. It signals a move by

Prosafe Q2 Earnings Below Expectations

Offshore accommodation rig provider Prosafe reported second-quarter earnings below expectations on Thursday and said that its short-term market outlook is weaker

High Bids in Western GofM Lease Sale

U.S. Government agency BOEM informs that Western Gulf of Mexico Lease Sale 238 attracted US$109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.

Underwater Engineering

RN Diving Expert Chris Baldwin Joins IMCA

The International Marine Contractors Association (IMCA) Secretariat says that Chris Baldwin has joined its team as a Technical Adviser following a short secondment from the Royal Navy.

Permanent On-site Collision Damage Repair in Greece

In July Hydrex mobilized a team of diver/technicians to Syros, Greece, for a complex repair operation on a 118-meter, 8550 DWT chemical tanker. The vessel had suffered

Maersk Drilling Rig Team Train Local Talent

Maersk Drilling says that its 'Mærsk Deliverer' rig team has initiated seven local acceleration programmes in Angola. The goal is to train and develop local talent

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1667 sec (6 req/sec)