Integrated Subsea Services (ISS) has struck a deal to provide specialist diving and remotely operated vehicle support to Bibby Offshore Ltd in a deal potentially worth up to £400 million.
The six year contract, which is valued at approximately £40 million per annum, has the option of being extended for a further four years. Under the contract the Aberdeen-based privately owned subsea oil and gas business will provide diving and ROV support to Bibby Offshore's full fleet of diving support vessels both in the North Sea and internationally.
A young privately owned company, ISS provides expert diving and ROV services for all kinds of subsea oil and gas work from new field installation to subsea well intervention and abandonment to pipeline and platform repair and maintenance.
The company recently invested £15 million in eight new remotely operated vehicles for its underwater contracting services and, following a recent recruitment drive, added 60 experienced ROV operators and trainees to its 500 strong onshore and offshore workforce.
Ian Herd, managing director of ISS, said: "This contract demonstrates why we invested in new technologies and equipment, as the industry looks to utilize the latest systems to ensure its use of assets and investment are maximized.
"ISS continues to grow rapidly both at home and overseas and our partnership with Bibby Offshore Ltd is testament to the high level of service we offer our clients and our ongoing commitment to the global oil and gas market."
Bibby Offshore Ltd, based in Aberdeen, has a dynamic profile in the highly competitive arena of energy services contracting and is focusing on delivering two distinct business offerings which are offshore services and subsea. The new deal will see ISS provide services for all three of the organization's diving support vessels: The Bibby Aquamarine, the Bibby Sapphire and the Bibby Topaz.
Howard Woodcock, managing director of Bibby Offshore, said: "We are delighted to be continuing our long standing relationship with ISS. The benefit of our partnership has been enjoyed by our clients for many years already and the high quality service we jointly deliver will continue to evolve and improve."
ISS has a number of diving sites around the world and offers both ROV and survey services in support of advanced oilfield construction and drill support operations.