Harkand News

Royal Boskalis Westminster N.V. has added two 115.4m diving support vessels (DSVs) to its fleet, in line with the company’s plan to expand its subsea services offering. Boskalis said it reached an agreement with the bondholders of the two former Harkand vessels under which it has acquired the DSV Atlantis for approximately $60 million and has signed a three-year bareboat charter for her sister vessel Da Vinci along with a right of first refusal in the event of a sale. The vessels…

In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance, says a report by Douglas-Westwood London. This has been further exacerbated by sustained low oil prices, as operators defer the sanctioning of new offshore projects which could have supported vessel utilisation. As a result, the average vessel dayrates declined by an average of 35% between 2014 and 2016. The weak market conditions have meant that many low specification vessels have struggled to hold on to existing charter rates, whilst some contracts were cancelled entirely. Furthermore, several high specification vessels have been forced to offer significantly lower day rates so as to stay competitive in such challenging times.

The announcement on the February 28 of EMAS Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Harkand and Swiber have entered into administration, taking a significant number of vessels out of the active fleet. In other cases, internal restructuring measures (e.g. Siem Offshore, Boa Offshore, Deepocean etc.) were/have been in order. While current indicators of subsea activity (e.g.

Simultaneous attention to four offshore support vessels at Gibdock demonstrates that the Gibraltar yard is now a regional hub for this specialized repair, maintenance and renewal work, operating as a base for mobilisation and de-mobilisation projects. Gibdock achieved its busiest month this year in the offshore market in June 2016, pressing home its strategic location and reputation for high quality, on-time redelivery, at a time when it is updating a series of management, safety and environment accreditations. Four offshore vessels were at Gibdock at the same time, highlighting its status as the ‘go to’ regional hub for OSV, seismic survey ship, dive support vessel, anchor handling tug supply ship, pipe layer and construction support vessel work, says Managing Director Richard Beards.

A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected to have a contracted backlog of $145 million worth of projects. The move also could potentially safeguard more than 100 jobs across North America, Africa and Mexico.

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.bbc.com. The company was a high-flyer building an enviable fleet of advanced tonnage. Established in 2012 and headquartered in London with operations bases in Aberdeen, Houston, Mexico, and Ghana, global subsea IRM group Harkand has been expanding its business operations rapidly throughout North America…

Harkand won a multi-million dollar contract with Maersk Oil North Sea UK Ltd to deliver subsea support services to the operator including a commissioning support campaign for the Flyndre development located in the south-eastern part of the Central Graben Basin in the North Sea. The Aberdeen office of the global inspection, repair and maintenance (IRM) company will oversee the mobilization of its sister dive support vessels the Harkand Atlantis and Harkand Da Vinci. The Flyndre…

Harkand has signed a new joint venture agreement with ESOPEG Lda in Angola, its first strategic partnership in the country and third in the region as the global inspection, repair and maintenance (IRM) company continues to strengthen its capabilities across West Africa. The newly formed company Harkand Angola Lda, based in Luanda, will focus on the development of local IRM capabilities and services in country, providing support and local content on both large major capital development projects and maintenance to existing ageing operations.

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO, to discuss his vision for the future and how Harkand aims to achieve its goal of being the leading subsea IRM and light construction contractor globally. Established in 2012 and headquartered in London with operations bases in Aberdeen, Houston, Mexico, and Ghana, global subsea IRM group Harkand has been expanding its business operations rapidly throughout North America…

Harkand informs it has completed the $10.5 million upgrade of its Gulf of Mexico based dive support vessel (DSV) Swordfish. Originally built in 2007, the Swordfish is the youngest DSV in this region. The fully International Marine Contractors Association (IMCA) compliant, ABS classed, 104-meter-long, DP2 DSV features a newly upgraded 15-man saturation diving system with a three-man bell along with a new 165-foot surface diving system. The vessel comes fitted with a new build 18-man self-propelled hyperbaric lifeboat (SPHL) for evacuation of the divers under saturation in case of an emergency.

Harkand's key shareholder Oaktree Capital Management has reaffirmed a strong commitment with an additional $25 million of funding which will allow the company to expand its footprint in new and existing regions. As well as maintaining its operations in current market conditions, the global inspection, repair and maintenance company has recently been awarded three major frame agreements taking them into West Africa and Mexico for the first time. It has also expanded its services with its first decommissioning project in the North Sea supporting Maersk Oil North Sea Ltd.

Global  inspection, repair and maintenance (IRM) company Harkand, has commenced decommissioning work in the United Kingdom Continental Shelf supporting Maersk Oil UK’s work in the Leadon field. Earlier this year, the IRM firm secured a multi-million pound 12-month frame agreement with Maersk Oil in the region for the provision of its two dive support vessels (DSVs), the Harkand Da Vinci and Harkand Atlantis as well as supporting onshore and offshore personnel. This new award will…

The Harkand Haldane is a DP3 dive support vessel currently being designed and built in Europe to reduce downtime in the North Sea’s winter marginal weather months. Along with its well-equipped and logically planned layout, Harkand’s clients looking for increased efficiency to maximize production during these challenging times may well have struck gold. There is no doubt this is a demanding time for the oil and gas industry. With the slump in the oil price operating companies in…

Harkand won a multi-million contract with Maersk Oil North Sea Ltd for the provision of DSV services in the North Sea region. The 12-month contract will be serviced by Harkand’s two DSVs, the Harkand Da Vinci and Harkand Atlantis, supported by project management and engineering from Harkand’s Aberdeen office. The contract covers well tie-ins, structure installation, piling, flexible flowline lay, flexible riser installation, pre-commissioning, riser recovery, decommissioning and general inspection, repair and maintenance (IRM) work.

Harkand  has extended its ROV support vessel fleet operations in the North Sea by signing a charter agreement for the Surf Ranger. The multipurpose ROV, survey and air diving vessel, owned by Go Offshore, will be deployed immediately on its first scope of work, a pipeline and structural inspection campaign for TAQA’s U.K. business. The project includes structural inspection at the Harding, Cormorant Alpha, North Cormorant, Tern and Eider assets, as well as the inspection of various pipelines…

Global inspection, repair, maintenance (IRM) and light construction company Harkand informs it has made a key appointment by securing Mike Brown as general manager of diving services in North America. A U.S. Navy veteran, Brown has considerable experience of commercial diving in the offshore oil and gas sector having held number of senior positions in a career spanning more than 35 years. He was most recently working with Chet Morrison Contractors as general manager of the offshore construction division.

Global inspection, repair and maintenance (IRM), survey and light construction contractor Harkand has entered into a charter agreement with Hornbeck Offshore for the offshore construction vessel HOS Mystique for a firm period of two years plus options. The 250ft (76.2m) DP2 vessel has a 70 MT AHC crane and will be outfitted with a Harkand Triton XLS ROV to support IRM and survey work in water depths up to 3,000m in the Gulf of Mexico. AJ Jain, North America managing director for Harkand said…

Subsea inspection, repair and maintenance (IRM) group Harkand says it is to position a second dive support vessel in the burgeoning North Sea sector after securing a major contract with CNR International (CNRI). The contract will see Harkand deliver jacket life extension works, IRM scopes and inspection services in the second quarter of 2014 for CNRI’s Ninian South platform and Lyell field, located approximately 150km north-east of the Shetland Islands. The award will see the…

Vard Holdings says it has secured a contract with a new customer, Harkand Group (Harkand), for the design and construction of a Diving Support and Construction (DSC) Vessel. The value of the contract exceeds NOK 1 billion. The vessel is scheduled for delivery from Vard Søviknes in Norway in 2Q 2016. and the hull is to be delivered from Vard Tulcea in Romania. The contract includes an option for a second similar DSC vessel. The new order will be of VARD 3 03 design, specially designed and equipped for diving and subsea operation duties with a high focus on good sea-keeping abilities…

Harkand has entered into a charter agreement with Siem Offshore for the Offshore Subsea Construction Vessel (OSCV) Siem Spearfish. The agreement covers a firm period of five years with three yearly options and shall commence in May 2014. The vessel will support the development of the Harkand group in the provision of inspection, repair and maintenance (IRM) services in the deep water Gulf of Mexico. The DP2 vessel, built by Vard in Norway, has a 250t crane and will be fitted with two Triton XLX ROVs, as well as a complete survey spread. The Spearfish addition to the Harkand fleet marks an important step forward in the company’s commitment to deep water activities.

Harkand has increased its presence in the burgeoning Asia Pacific region by securing a clutch of multimillion dollar contracts for execution in 2013/14. Under a deal with PTSC Offshore Services, the ROV support vessel Harkand Harmony has been deployed on its first charter since joining the fleet in August and is carrying out flexible lay operations in the Ruby Field, offshore Vietnam, with the charter expected complete in late November. The contract commenced in October with the work scope including a heavy duty Work ROV and provision of personnel.

Internatioanl subsea inspection, repair and maintenance (IRM) group Harkand announced the appointment of John Reed as its new chief executive officer as it embarks on the next stage of its ambitious growth strategy. Reed, an industry veteran with more than 30 years’ experience in the offshore engineering and construction sector, will lead the development of the company as it drives forward with its target of growing turnover to $1 billion in the next five years. Due to take over the reins in October, he replaces Nicolas Mouté who steered the group’s formation since inception and through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management and the acquisition of Veolia Marine Services.

The newest ROV support vessel to service Asia Pacific’s oil and gas industry has been launched in Singapore. Around 100 invited guests from across the global energy sector attended the christening ceremony of the Harkand Harmony at Keppel Marina. Sophie Mottais-Trouve, the wife of Harkand’s Vice President of Commercial and Strategy Olivier Trouve, opened the festivities by officially naming the 65m vessel. The Harmony’s christening follows two major milestones for the group, Harkand said.