Private Equity Investment Creates Group

Press Release
Wednesday, February 06, 2013

Group to Focus on Growing Global Underwater Inspection Repair and Maintenance Market. New Name in Subsea Unveiled at Subsea 2013.
 
 

A new subsea oil and gas group, Harkand, chaired by oil and gas industry veteran Tom Ehret, is launching  with an ambition to grow to a turnover of $1 billion in the next five years.
 

Following investment by Oaktree Capital Management in Iremis, Integrated Subsea Services (ISS) and their sister company Andrews Survey last year, the three names have merged to form one group focused on the fast-growing subsea inspection, repair and maintenance (IRM) market.

 
Harkand aims to become a leading global name in subsea IRM focused on attaining the highest standards in health, safety, quality and environmental performance and delivering excellent execution of projects.

 
The group will combine proven survey, inspection, repair and maintenance services with the Iremis fleet of multi-purpose diving support vessels, ROV and Air Diving support vessels and ISS’ fleet of 23 remotely operated vehicles (ROVs) and teams of ROV operators, surveyors and divers.

 
The vessel fleet includes the new state-of-the-art multi-purpose diving support vessels, Harkand Atlantis and Harkand Da Vinci.
 

Nicolas Mouté is the chief executive officer of the Harkand Group. Commenting on the new group, he said: "Today’s launch sends an exciting signal to the oil and gas market worldwide. Harkand has all the resources, including the support from our shareholder, to play a major role in the subsea market as a focused, niche group. We are already looking into opportunities to grow our fleet and extend our services to offer our clients a wide range of cost-effective and innovative subsea solutions."


International operations are headed by Harkand Iremis Managing Director Patrick Chapalain and European Operations are headed by Harkand ISS Managing Director David Kerr.


Mr Chapalain said:: “It is our intention for Harkand to become a world-leader in subsea IRM with new offshore tonnage, systems and equipment along with a motivated and competent workforce.

 
Mr Kerr added: “Our strong track-record, can-do culture and experienced personnel will ensure we meet existing demand for our services, exploit new opportunities and challenge the norm for subsea IRM delivery by continually developing fit for purpose, more cost-effective but still safe ways of tackling underwater inspection and repair.”

 
The group’s name, Harkand, comes from mediaeval Arabic literature where it is the name of one of the seven seas.

From its bases in Aberdeen in the UK, Dubai in the Middle-east, Singapore and Perth in Asia Pacific, the group is already carrying out work in the North Sea, Brazil, West Africa, India, Russia and the Caspian, Australia, Vietnam and the Gulf of Mexico.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

Energy

USA Urged Not to Delay Arctic Drilling

The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, reports AP.

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

News

Gulf Bridge Express Service to End

The Gulf Bridge Express Service will shortly be terminated with the last roundtrip voyage being MV Saint Nikolaos voyage 00008S, ETA New Orleans on April 22, 2015.

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Surveyors

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

Underwater Engineering

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

Statoil: Polarled Pipe-Laying Kicks Off

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas

Submerged Politics in Aussie's $39 bln Submarine Plan

Australian government plans to spend 50 billion Australian dollars (US$39.39 billion) on powerful new submarines, has become a political football at home, reports Reuters.

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority 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: 0.2599 sec (4 req/sec)