To support a growing subsea construction support business, Geo Subsea Pte Ltd (Singapore) has entered into an agreement to purchase an Aker DSV-06 diving support vessel from Fitjar Mekaniske Verksted. The contract, ex buyers deliveries, is worth approximately NOK 430 million and the vessel is scheduled for delivery in October 2008.
The vessel is specifically designed for subsea construction operations and will be equipped with a saturation diving system, 2 deep water work ROVs and a 140T subsea crane. The vessel will operate under a Singapore flag.
Geo Subsea intends to operate the vessel throughout the South East Asian region to support the company's growing subsea construction and maintenance business. This vessel will become the industry benchmark for the region and will cement Geo Subsea's position as a leading provider in this market."
The purchase of this high capability vessel follows the recent decision to reposition the specialist survey vessel Geosounder (formerly Geograph) from Europe to Singapore. The Geosounder arrives in the region late January to commence site investigation work for Woodside Energy Ltd in Australia.
Geo Subsea's multipurpose vessel the Geosea has recently completed refit in Singapore where the capability of this vessel was significantly enhanced with the installation of both saturation and air diving systems. The Geosea is currently undertaking a three month contract for Technip and Woodside Energy Ltd on Australia's North West shelf undertaking saturation diving and ROV operations with a value of approximately NOK 90 million.