Subsea 7 has announced the award of four major contracts for its recently created division, Subsea 7 i-Tech.
The new division is focussed on meeting the requirements of the dynamic drilling support market by building on and extending its existing expertise in ROV services and by providing innovative intervention technology solutions across the globe.
The resurgence in drilling activity, and the subsequent increase in reactivated and new drilling units becoming available, has resulted in a worldwide shortage of ROVs.
In response to this, and in order to satisfy our clients’ requirements, Subsea 7 i-Tech has been formed to develop and expand its worldwide market position providing added value and a global integrated services delivery approach.
With over 400 personnel globally and with over 60 ROVs permanently deployed at inception (together with access to Subsea 7’s additional fleet of 60-plus ROVs and 3,500 personnel), Subsea 7 i-Tech is currently the world’s second largest ROV provider, and will operate out of four regional centres: Europe and Africa, Asia Pacific, the Americas and Brazil.
Since its formation, Subsea 7 i-Tech has been awarded four major long term contracts in Brazil for the provision of ROV and intervention tooling services. These contracts are for Petrobras, offshore Brazil, to provide ROVs onboard four drilling units over four years with options to extend to a maximum of eight years each.
Subsea 7 i-Tech’s Managing Director, Neil Milne, commented, “We are delighted to be able to announce the creation of Subsea 7 i-Tech as a dedicated drilling support business, particularly in light of these major contract awards. These enhance our existing excellent relationship with Petrobras and confirm our long-term commitment to working in Brazil”.
The establishment of Subsea 7 i-Tech gives us the opportunity to build on our existing client relationships and add value by focussing our technical knowledge and experience for the future.”
April 28, 2006
Offshore Shipping Online