North Sea Rlwi Alliance News

Island Offshore, a global Light Well Intervention (LWI) specialist, has been selected by Premier Oil U.K. Ltd. to undertake a new LWI service contract on the U.K. Continental Shelf. The win strengthens Island Offshore’s established position in the dynamic and competitive North Sea marketplace. Premier, an oil and gas exploration and production company, awarded the business to Island Offshore and the North Sea RLWI Alliance, the operator of three monohull vessels specially designed for well intervention tasks. A key factor in the decision-making process was said to be Island Offshore’s extensive segment expertise, having successfully performed approximately 250 well interventions since 2005.

Island Offshore has been awarded a major contract extension with BP Exploration Operating Company Ltd. The two-year contract extension, covering 2014 and 2015, has been awarded to Island Offshore and the North Sea RLWI Alliance, which operates three monohull vessels specially designed for well intervention tasks. Island Offshore’s Island Constructor - a 120m long, 8,200 ton, Ulstein built X-Bow vessel – will perform the scope of work for the client. The value of the new contract is approximately $86.5 million (USD) and includes options for $129.8 million (USD).