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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Beacon Finland Appoints Rio Marine for US Support

Beacon Finland, a maritime-related firm engaged in naval architecture, marine engineering and equipment, has appointed Rio Marine to service its JAK-ATB coupling systems in the U.

Noncompliant Cargo Ship Banned from Australia

The 86-meter general cargo ship Noah Satu has been prohibited from entering or using any Australian ports for the second time in less than 12 months, following another round of safety,

‘Choice Alliance’ Formed to Serve BWT Market

A strategic alliance between Choice Ballast Solutions and Drew Marine has been formed to provide vertically integrated capabilities within the ballast water treatment (BWT) market.

Finance

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

Maersk CEO Looks to Increase Market Share

A.P. Moller-Maersk's chief executive said its container shipping arm Maersk Line probably gained market share in the second half of 2015 after losing some in the first half of the year.

Gamesa, Siemens Negotiating Wind Merger Terms

German engineering group Siemens and Spanish renewable energy group Gamesa are in final negotiations on a deal to merge their wind power assets, two sources familiar

Energy

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

Gamesa, Siemens Negotiating Wind Merger Terms

German engineering group Siemens and Spanish renewable energy group Gamesa are in final negotiations on a deal to merge their wind power assets, two sources familiar

Maersk Writes Down Oil Assets

Writedown pushes company into red in fourth quarter; 2016 profit to fall short of previous year. Denmark's A.P. Moller-Maersk tumbled to a loss of $2.5 billion

News

Wärtsilä Supporting Japan's 'Gas Age' Shipping

A total of 16 new gas carrier ships being built in Japan for Japanese owners are to be powered by Wärtsilä dual-fuel engines capable of running on liquefied natural

BMT Provides Ferry Design for River Murray

BMT Design & Technology Pty Ltd (BMT), a subsidiary of BMT Group Ltd, has completed a design project for the South Australian Government’s Department of Planning, Transport and Infrastructure (DPTI).

Parker Bestobell to Supply Valves for FSRU Newbuilds

Parker Bestobell Marine has recently completed a contract to supply cryogenic Globe and Check valves made in Sheffield, for Hoegh LNG’s series of five FSRUs (Floating

Surveyors

BMT Provides Ferry Design for River Murray

BMT Design & Technology Pty Ltd (BMT), a subsidiary of BMT Group Ltd, has completed a design project for the South Australian Government’s Department of Planning, Transport and Infrastructure (DPTI).

DNV GL, RS Ink Cooperation Deal

DNV GL’s Maritime CEO Knut Ørbeck-Nilssen recently met with Konstantin Palnikov, Director General of the Russian Maritime Register of Shipping (RS), at the RS head office in St.

Drones Allow Surveys Without Scaffolds

DNV GL has completed several tests using drones to support hull surveys of vessels. Using drones to visually check the condition of remote structural components

Underwater Engineering

Aker Joins Johan Sverdrup Phase 2 Study

Aker Solutions will deliver a concept study on a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field, Norway's largest oil find in three decades.

I-Tech Gets Large Market Recognition of Selektope

Following the approval of Selektope under the EU’s Biocidal Products Regulation, developer I-Tech reports extraordinary uptake for antifouling coatings that include

JFD Wins Lifeboat Design Contract for Flash Tekk

JFD, part of James Fisher and Sons plc, announced that it has won a contract with Singaporean company Flash Tekk Engineering for the design and manufacture of up

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1411 sec (7 req/sec)