Norway: FMC to Provide LWI Services to Statoil

FMC Technologies, Inc., a global provider of technology solutions for the energy industry, has signed two five-year contracts with Island Offshore Management AS to supply Light Well Intervention (LWI) services for use by Statoil in the North Sea, contingent on approval from Statoil’s partners. Each contract contains options for two, two-year extensions.

FMC’s LWI services enable cost effective intervention and maintenance operations to be performed on existing subsea wells, resulting in higher recovery rates and accelerated production volumes in mature subsea oil fields. The contracts will commence when the existing LWI contracts between the companies expire in 2015. The well intervention activities will be conducted from two Island Offshore vessels, the Island Frontier and the Island Wellserver.

“Reducing the cost of operations and increasing oil recovery are two key benefits of the LWI system,” said Tore Halvorsen, FMC’s Senior Vice President of Subsea Technologies. “Demand for these services will continue to grow as the number of subsea wells increase, and we are pleased to continue to support Statoil with our LWI services.”

Norrway’s oil giant Statoil yesterday awarded contracts for new light well intervention (LWI) vessels. These “category A” units will contribute to increased recovery from Statoil’s approximately 500 operated subsea wells on the Norwegian continental shelf (NCS). Statoil has awarded contracts to Island Offshore Management and Eide Marine Services for the charter of a total of three LWI vessels.

“These contracts prove that Light Well Intervention will also in the future be a common part of oil and gas recovery on the Norwegian Continental Shelf. Island Offshore is proud to announce another milestone as a validation of our efforts and investments in this market segment,” commented Robert Friedberg of Island Offshore.

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Statoil Charters Light Well Intervention Vessels to Increase Recovery

Statoil has awarded contracts for new light well intervention (LWI) vessels. These “category A” units will contribute to increased recovery from Statoil’s approximately 500 operated subsea wells on the Norwegian continental shelf (NCS).

Statoil has on behalf of relevant licensees awarded a contract to Island Offshore Management and Eide Marine Services for the charter of a total of three LWI vessels.

These purpose-built vessels are used for performing light well interventions, well operations and well maintenance without a riser-based system. Statoil can reduce well intervention costs by about 60% by utilizing a LWI vessel instead of a conventional rig.

“Performing these types of conventional jobs on subsea wells with low volumes of oil in place is expensive. The LWI vessels ensure both cost-efficient and safe operations,” says Statoil’s head of drilling and well Øystein Arvid Håland.

“Having more and new vessels of this category also helps increase recovery from fields on stream by opening new zones in the well, and stopping water production downhole.”

The contracts are worth a total of NOK 9.4 billion (USD 1.57 billion).

Island Offshore vessels Island Frontier and Island Wellserver, which already have contracts with Statoil, have been awarded new five-year contracts. Eide Well Intervention, a new supplier in this segment for Statoil, has been awarded an eight-year contract for their new build, which employs a completely new technology.

The contracts with both companies come into effect in the spring of 2015, and include two options to extend for another two years.

A growing number of discoveries are developed via subsea wells, and it is important both to have equipment capable of maintaining these and to avoid using conventional drilling rigs for this type of work.

The rig market on the NCS is characterized by an aging rig fleet, and it is necessary to ensure sufficient and adequate rig capacity at sustainable rates. To address this, Statoil has put light LWI vessels – category A units – into service on a large scale.

“We have great ambitions and a long-term perspective on the NCS. Using purpose-built rigs and vessels in our operations is an important part of Statoil’s rig strategy. The high number of subsea wells in the future will require maintenance, and we are securing capacity in order to meet this need,” says Statoil’s chief procurement officer Jon Arnt Jacobsen.

“Island Offshore has delivered solid services and we expect the same going forward. At the same time we are pleased to have increased the number of suppliers in this market, and through the Eide Well Intervention newbuild we are also employing the latest available technology. Together these three vessels will provide us with an efficient service fleet for light well intervention services.”

Statoil has been pursuing riserless well intervention in subsea wells since 2000, and the technology has steadily improved.

The category A units will perform services for Statoil and the partners on the Åsgard, Norne, Gullfaks, Oseberg, Heidrun, Snøhvit, Tyrihans, Tordis/Vigdis, Snorre, Statfjord and Sleipner fields.

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Successful final commissioning of Expro’s AX-S subsea well intervention innovation

Published: May 21, 2012

Leading international oilfield services company Expro is celebrating the successful commissioning of its ground-breaking AX-S™ well intervention system.

The AX-S system, on board the Havila Phoenix vessel, completed its final commissioning successfully on a subsea well in a fjord (Onarheimsfjorden), in Norway, in April. Many major milestones were achieved and preparations are now under way for its first commercial well intervention job in the North Sea.

All operations during the commissioning were carried out safely without any incidents. All the subsea packages were fully deployed twice in a complete stack-up and 34 tools runs were performed on the well deploying a variety of down hole equipment including callipers, production logging, CCL, gamma ray, deep set plug, crown plugs and wireline tractor.

More than 40 potential customers attended the commissioning and witnessed the successful demonstrations.

Dave Shand, AX-S Managing Director, said: “After more than seven years of development and innovation and $200million investment in technology, it is testament to the hard work of our AX-S team and the backing of Expro that the AX-S system is now ready for business.

“The final commissioning of this innovative well intervention system is an epic milestone and we are delighted that we have delivered a leading edge solution to the oil and gas industry which will significantly change how operators approach well intervention globally.

“The feedback we have received from this major milestone shows that AX-S has been recognised as a novel, safe, cost efficient and efficient way of performing well intervention.”

With its industry experience and innovative technology, Expro offers tailor-made solutions for its customers across the lifecycle of their wells.

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Norway: STX OSV Strengthens Specialist Technology with New Acquisitions

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announces that it is strengthening its technology and engineering competence through two separate transactions.

Seaonics AS (“Seaonics”), a subsidiary of STX OSV, is in the process of acquiring a shareholding interest in Castor Drilling Solution AS (“CDS”). Based in Kristiansand, Norway, CDS is a newly established company with specialist competence in offshore drilling technology.

The investment is expected to give STX OSV new insight into this segment of the offshore market, and give opportunities for development of integrated solutions primarily related to the growing market of Offshore Subsea Construction Vessels (“OSCV”). The investment, to be completed in two tranches by the end of the year, will give Seaonics a 34% stake in CDS.

Separately, STX OSV has entered into an agreement to acquire 70% shareholding interest in Brevik Partners AS (“Brevik Partners”). Established in 2010, Brevik Partners is an engineering company specializing in offshore technology and equipment. The investment in the company, to be renamed STX OSV Engineering Brevik, is expected to strengthen STX OSV’s ability to develop new concepts and integrated solutions for offshore and specialized vessels. The proposed transaction is expected to be closed by the end of May.

Both investments are in line with STX OSV’s strategy of increasing its technology and engineering competence in select parts of the offshore value chain. Through focused investments, STX OSV aims to strengthen its ability to develop and introduce vessels equipped with cutting-edge innovation and technology.

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Norway: PSA Conducts Audit of Major Accident Risk in Connection with Light Well Intervention

In December 2011 and January 2012, the Petroleum Safety Authority Norway (PSA) conducted an audit of Statoil Petroleum AS (Statoil) and Island Offshore Subsea AS (Island Offshore). The audit was aimed at management of major accident risk and the barrier management system in connection with light well intervention on Island Constructor.

Each year, more than 500 well interventions are carried out on the Norwegian shelf, and this number is expected to grow.

There is a high level of risk associated with work on live wells (major accident potential) and many interfaces (multiple alliance partners).

A survey of well intervention activities carried out during the period 2003 – 2008 concluded that there was a significant need for well interventions on subsea installations. Verification on one of the facilities that carries out light well intervention was implemented to investigate HSE challenges linked with this type of operation.

Island Offshore Management and Island Offshore Subsea have an alliance with FMC and Aker Well Service for operation of the Island Constructor which carries out light well intervention on subsea wells for Statoil.

Objective

* Evaluate the companies’ understanding, knowledge and expertise as relates to major accident risk and managing barriers, on the part of both company management and among the employees.

* Evaluate strategies and principles which are to form the basis for design, use and maintenance of barriers so that the barriers’ function will be safeguarded throughout the entire facility lifetime.

* Verify that performance requirements are established and implemented.

* Develop the PSA’s expertise in following up management’s work to reduce major accident risk, and clarify the need to develop a framework and supervision methods.

* Contribute to the PSA developing its own methods that will form the basis for more effective barrier supervision.

Result

The audit activity uncovered three nonconformities and four improvement items as regards Island Offshore.

The nonconformities related to deficient analysis of defined hazard and accident situations, layout of kill and stimulation lines, and deficient basis for and documentation of maintenance.

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Recap: Worldwide Field Development News (Mar 16 – Mar 22, 2012)

This week the SubseaIQ team added 8 new projects and updated 32 projects. You can see all the updates made over any time period via the Project Update History search. The latest offshore field develoment news and activities are listed below for your convenience.

Africa – West African Petroleum Secures Block Offshore Cote d’Ivoire Mar 21, 2012 – African Petroleum has entered an agreement with Societe Nationale d’Operations Petrolieres de la Cote d’Ivoire (“PETROCI”) and the Republic of Cote d’Ivoire (the “State of Cote d’Ivoire”) to acquire exploration rights in offshore block CI-509. The permit is situated in the western offshore area of the Cote d’Ivoire, spanning 269,683 acres (1,091.37 square kilometers). African Petroleum will operate the block with a 90 percent stake, while the remaining 10 percent is owned by Petroci. The company expects to commence a 3D seismic program over Blocks CI-513 and CI-509 in mid-April 2012. Ownership Change in License 20, Block 2714A Mar 16, 2012 – Chariot Oil & Gas announced changes in equity ownership of its Southern Block 2714A resulting in Petrobras, the license operator, holding 30% interest; BP Exploration (Namibia) Limited acquiring an additional 20% equity making it the majority interest holder with 45%; and Enigma Oil & Gas Exploration (Chariot’s wholly-owned subsidiary) owning the remaining 25% interest in the license. The change in the equity ownership does not affect the current program for License 20, which contains the drill-ready prospect, Nimrod. As announced previously, the partnership plans to drill the exploration well Kabeljou-1 on the high-impact Nimrod prospect later this year. Tullow to Further Explore Deepwater Tano License Mar 16, 2012 – Tullow has identified several prospects in the Deepwater Tano license offshore Ghana. Three exploration wells are expected to be drilled on the block before 2013, which include: Wawa-1, Sapele-1 and Tweneboa Deep-1. Tullow said that Wawa-1 will target hydrocarbons which may have moved to a trap up-dip from the TEN oil and gas/condensate fields; Sapele-1, immediately south of the Jubilee field, will test a prospective turbidite lobe and Tweneboa Deep-1, is a material prospect below the TEN fields. Project Details: Sapele (Ghana) Tullow Finds Additional Pay in Enyenra Field Mar 16, 2012 – Tullow Oil has successfully appraised the Enyenra-4A well in the Deepwater Tano License offshore Ghana. The well encountered oil in very good quality sandstone reservoirs. The company said that good evidence of communication with the Owo-1 discovery wells and the Enyenra appraisal wells confirm the extent of the Enyenra light oil field. Enyenra-4A, located 4.5 miles (7 kilometers) south west of Enyenra-2A and almost 13 miles (21 kilometers) south of the Enyenra-3A well, was drilled to define the southern extent of the field. Results of drilling, wireline logs, samples of reservoir fluids and pressure data show that Enyenra-4A has intersected 105 feet (32 meters) of net oil pay. Pressure data from the oil leg has demonstrated that the oil is in static communication with the oil seen in the other wells in the field, indicating a continuous oil column of approximately 1,970 feet (600 meters). The well will be suspended for later use. The Ocean Olympia (UDW drillship) drilled the well to a total depth of 13,695 feet (4,174 meters) in a water depth of 6,160 feet (1,878 meters). Project Details: The Ten Cluster Black Sea Midia Resources Enters Muridava License Offshore Romania Mar 22, 2012 – Melrose Resources has agreed to farm-out a portion of its equity in the EX-27 Muridava License, offshore Romania. The Romanian National Agency of Mineral Resources has formally approved the transfer of a 40 percent working interest in the block to Midia Resources, a wholly-owned subsidiary of Sterling Resources. Following completion of the transaction, Melrose will retain operatorship and a 40% stake in the concession, with the remaining equity held by Midia (40%) and Petromar Resources (20%). Asia – SouthEast Salamander Gears Up for Drilling in B8/38 License Mar 22, 2012 – Salamander Energy has contracted the ENSCO 53 (350??? ILC) jackup to commence a four-well drilling program for License B8/38 offshore Thailand. The company will initially drill two development wells followed by exploratory drilling in May. The license houses the Bualuang oil field in 197 feet (60 meters) of water. Project Details: Bualuang Nido Updates Ops at Galoc Field Mar 21, 2012 – Nido Petroleum announced that fabrication and installation of the turret mooring and riser system for Phase II of the Galoc field was progressing on schedule with production expected to resume at the end of 1Q 2012. Furthermore, the FEED for Phase II is being performed as planned and remains on track for FID in 2012. Project Details: Galoc S. America – Other & Carib. Borders & Southern Encounter Rig Issues While Drilling Darwin East Mar 16, 2012 – Borders & Southern reports that although drilling operations on Darwin East are going according to design, technical issues with equipment on the Leiv Eiriksson (UDW semisub) may result in another four to five weeks of activity on well 61/17-1. The operator said rig issues were resolved and drilling is progressing. Further announcements are anticipated once the well reaches total depth and wireline log interpretations are completed. Project Details: Darwin East Asia – South Santos Finds More Gas at Sangu Mar 16, 2012 – Santos has found a new gas reservoir through well Sangu-11 in the Sangu area with about 66 feet (20 meters) of good-quality gas pay. The well will be completed and tied into the Sangu facilities. The operator is continuing to assess the volumes and flow potential of the reservoir. After completing Sangu-11, the Seadrill jackup Offshore Resolute (350??? ILC) will be demobilized. Sangu-11 was the final well in a three-well drilling campaign in Block 16 PSC that commenced in September 2011. The first well, South Sangu-4, found gas in one target but was unable to add further reserves due to encountering anomalously high formation pressure, and had to be abandoned prior to reaching its primary objective. The second well, NE Sangu-1 drilled in December 2011, failed to encounter commercial hydrocarbons and was also abandoned. Project Details: Sangu Europe – North Sea Premier Halts Fyne Development Mar 22, 2012 – Premier Oil has decided to not move forward with developing the Greater Fyne area in the North Sea due to disappointing appraisal drilling results earlier this year. The operator said the development does not meet its commercial threshold. Fyne was slated to commence production in 2014. Project Details: Fyne Aker Solutions Scores FEED Study for Draupne Field Mar 22, 2012 – Det norske awarded Aker Solutions a front-end, engineering and design contract for the Draupne field in the Norwegian sector of the North Sea. The study is slated for delivery in 4Q 2012. First production from the development is expected in 2015. Project Details: Luno, Draupne Project BP Gets Green Light to Drill North Uist Mar 22, 2012 – The Department of Energy and Climate Change has granted BP permission to drill the deepwater North Uist oil well, northwest of the Shetland Islands. The well is situated in Block 213/25c in a water depth of 4,232 feet (1,290 meters). Project Details: North Uist Catcher Field to Come Online in 2015 Mar 20, 2012 – Nautical Petroleum, a partner in the Catcher field, expects production to commence from the development in 2015. The final field-development plan (FDP) for the discovery will be submitted before the end of this year. Catcher is estimated to hold 135 MMbbl of oil. The Catcher field is located in the Central North Sea Block 28/9 in a water depth of 299 feet (91 meters). Project Details: Catcher Valiant Spuds Cladhan South Mar 20, 2012 – Valiant Petroleum has commenced drilling at the Cladhan South exploratory prospect, located in Block 210/29c in the UK sector of the North Sea. Cladhan South is an Upper Jurassic channelized sand play immediately to the south of the existing Cladhan discovery with gross prospective resources estimated internally by Valiant to be 13 MMboe. The well is being drilled by the Sedco 704 (mid-water semisub) and is anticipated to take 35 to 40 days to complete. Project Details: Cladhan EPC Offshore Scores Lancaster Gig Mar 20, 2012 – EPC Offshore received a contract to select the optimum concept for the development of Hurricane’s Lancaster field in the UK sector of the North Sea. The first phase of the project is expected to run until the end of the year with FEED engineering commencing in 2013. The development is situated on Block 205/21a in 509 feet (155 meters). Project Details: Lancaster Valiant Petroleum Enters Norvarg License Mar 20, 2012 – Rocksource has signed a strategic asset transaction with Valiant Petroleum for a stake in the Norvarg discovery. The transaction includes the sale of a 13-percent stake, leaving a 7 percent stake with Rocksource. The transaction remains subject to certain conditions, including Norwegian government approvals. Rocksource is a partner in the Norvarg license, which Total operates with a 40 percent stake. Project Details: Norvarg FMC to Supply Subsea Equipment for Fram H-Nord Development Mar 20, 2012 – FMC Technologies has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Fram H-Nord development. The scope of work includes one subsea production tree, one manifold and one multiphase meter. Deliveries are expected to occur throughout 2013. Project Details: Troll Area Xcite Spuds 9/3b-7 Well on Bentley Mar 18, 2012 – Xcite Energy announced that jackup Rowan Norway (400′ ILC) has spud the 9/3b-7 development well commencing Phase 1A of the first phase development of the Bentley Field. Project Details: Bentley Trap Oil Acquires 15% Interest In Athena Mar 16, 2012 – Trap Oil will acquire a 15 percent working interest in the Athena oil field from Dyas UK Limited, subject to DECC and Dyas partners’ approvals. The effective date for the transaction is Jan. 1, 2012. Ithaca Energy is the operator and currently holds a 22.5 percent stake in the block. Following completion of the acquisition, the remaining equity holders will be Dyas, the largest equity holder with 32.5%, EWE Energie AG with 20% and Zeus Petroleum with the remaining 10%. The field will be developed via four existing production wells and one water-injection well tied to a stand-alone FPSO, the BW Athena vessel. The vessel is expected to arrive at the Athena location this month and, since the majority of the subsea elements for the field have already been installed, all of the production wells are ready for hook-up. Project Details: Athena Noreco Comes Up Dry in Luna Mar 16, 2012 – Noreco is in the process of completing exploratory well Luna-1X in License 1/11 offshore Denmark. The well did not encounter hydrocarbons. Project Details: Luna S. America – Brazil Petrobras Discovers Oil in Santos Basin Mar 20, 2012 – Petrobras has made a discovery of a high-quality oil accumulation in Block BM-S-8 in the pre-salt area of the Santos Basin. The discovery was found during the drilling of well 4-SPS-86B (4-BRSA-971-SPS), unofficially known as Carcara, 144 miles (232 kilometers) off the coast of Sao Paulo State. Sampling confirmed the presence of oil at approximately 31 degree API in reservoirs 18,865 feet (5,750 meters) deep. The well continues to be drilled with the aim of determining the lower limit of reservoirs and to identify other possible zones of interest. Carcara is the third well drilled in the area of the Discovery Evaluation Plan of 1-BRSA-532A-SPS (Bem-te-vi prospect), and is 12.43 miles (20 kilometers) from the discovery well at a water depth of 6,650 feet (2,027 meters). OGX Acquires Additional Stake, Reins of Campos Basin Blocks Mar 20, 2012 – OGX has acquired an additional 20 percent stake in Blocks BM-C-37 and BM-C-38 in the shallow waters of the Campos Basin, from partner Maersk Oil. OGX will now assume operatorship of these blocks. With this acquisition, OGX plans to use its current operational structure to drill six wells in blocks BM-C-37 and BM-C-38, in order to confirm the extension of discovered accumulations and test the existence of new prospects in the area. OGX will conduct all necessary studies and tests aiming to convert its resources into reserves. Project Details: Carambola Other Cairn Processing 3D Seismic Data Offshore Greenland Mar 20, 2012 – Cairn Energy said that a number of play types have been identified on the Pitu block, which is geologically separate from other parts of West Greenland. The extensive shallow coring program undertaken by Cairn across the block in 2011 confirms the presence of micro oil seeps above structural closures already identified. All of the exploration evidence acquired to date points to the Baffin Bay Basin being oil generative and having multi-billion barrel potential. The 3D seismic acquired over Pitu in 1H 2011 is currently being processed, with final results expected in May/June 2012. Subject to the final interpretation of those results, exploration wells will be planned for the Pitu prospects. Australia Woodside’s Pluto LNG Ready for Start Up Mar 22, 2012 – Woodside’s Pluto LNG project has reached ready for start-up and first gas has entered the processing train. First production of LNG will take place in the coming weeks, followed by deliveries to foundation customers and project participants Kansai Electric and Tokyo Gas. The initial phase of the Pluto LNG project comprises an offshore platform in 279 feet (85 meters) of water, connected to five subsea wells on the Pluto gas field. Gas will be piped through a 112-mile (180-kilometer) trunkline to an onshore facility. Project Details: Pluto Woodside Ramps Up Vincent Production with Infill Wells Mar 21, 2012 – Woodside reported that the Vincent field has produced roughly 27 MMbbl of oil since start-up in 2008, with 2011 production around 8.5 MMbbl. In September 2011, the company boosted Vincent???s overall production rate with two infill wells (VNB-H5 and VNB-H6) coming online. This resulted in the Ngujima-Yin FPSO achieving its highest production rate of almost 53,000 bopd. Woodside will complete a third infill well at Vincent, VNB-H7, and bring it online in 1H 2012. Project Details: Vincent Santos Disconnects Mutineer-Exeter’s FPSO to Avoid Tropical Storm Mar 16, 2012 – Santos has shut-down production at its Mutineer-Exeter oil field due to the approaching Severe Tropical Cyclone Lua. Mutineer-Exeter’s floating production storage and offloading vessel was disconnected March 15 and has been sailing to avoid the cyclone since then, a Santos spokesman said in a statement. Project Details: Fletcher/Finucane NZOG to Acquire a Stake in the Kaheru Permit Mar 16, 2012 – New Zealand Oil & Gas signed a conditional agreement to acquire a 15 percent stake in the Kaheru permit (Petroleum Exploration Permit 52181) off the Taranaki coast. The interest acquired is from AGL Upstream Gas (MOS), a wholly owned subsidiary of AGL Energy Ltd. The other partners in the permit are ROC Oil (50% and Operator), TAG Oil (20%) and L&M Energy (15%). NZOG will pay $3 million for AGL’s stake, conditional on the joint venture making a commitment to drill a well (and on joint venture and Crown approval of the transfer of ownership from AGL to NZOG). The permit, which houses the Kaheru prospect, currently has a drilling commitment deadline of May 18, 2012, with a well scheduled to be drilled by May 18, 2013. The Kaheru prospect lies in 82 feet (25 meters) of water, and is 5 miles (8 kilometers) from shore. Project Details: Kaheru INPEX Grabs Prelude Interest Mar 16, 2012 – INPEX has agreed to acquire a 17.5 percent participating interest in the Prelude FLNG project from Shell. This transaction is pending necessary governmental approval. The Prelude FLNG project is located in WA-44-L, approximately 295 miles (475 kilometers) north-northeast of Broome, off the coast of Western Australia. The project includes the Prelude and Concerto gas fields. These fields will be developed utilizing a FLNG facility and will produce at least 3.6 million tonnes per annum of LNG, along with 0.4 million tonnes per annum of liquefied petroleum gas and approximately 36,000 bopd of condensate at peak. Project Details: Prelude Asia – Far East Roc Oil to Commence Beibu Gulf Proj. Development Mar 21, 2012 – The Chinese Government’s State Oceanic Administration has approved the Environmental Impact Assessment for the Beibu Gulf project, which compromises the development of the WZ 6-12 and WZ 12-8 west oil fields located in the South China Sea. This approval allows the company to commence offshore development activities on the project. Subject to final approval, onshore fabrication activities are ongoing and offshore pipeline installation is anticipated to commence during March. On completion of platform installation during 1H 2012, drilling activity is expected to start mid-year and will include four exploration/appraisal wells, which will be followed by the development drilling program. The operator anticipates first oil production from the Beibu Gulf project by the end of 2012 with full-field peak production anticipated by 2013. Project Details: Beibu Gulf Project

 

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Halliburton Charters Island Captain for UK Operation

Norway’s Island Offshore reports that Halliburton has chartered the Company’s Island Captain as a well stimulation vessel on a 2 months firm contract.

The vessel will be operating on the Clipper South field in the Southern North Sea. The Island Captain is with this joining Island Commander and Island Patriot as the 3rd well stimulation vessel from IO, with a 4th vessel going into operation in January 2013.

“We are very happy to have made this deal with Halliburton and feel confident that the vessel will perform to the charterers’ expectations,” reads Island Offshore’s statement.

The Island Offshore Group is currently operating a fleet of 17 vessels ranging from Platform Supply vessels, Anchor Handling Vessels, Subsea Construction Vessels to Light Well Intervention Vessels. The group has several vessels under construction.

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