UK: Reef Subsea Enters Charter Deal for Two Neptune Offshore’s Vessels

Nov 16

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Reef Subsea AS announced yesterday that they have entered into two 5-year charter agreements for two newly-built dynamically positioned subsea construction vessels – Neptune Despina and Neptune Larissa – from Neptune Offshore AS.

Simultaneously Neptune Subsea AS, the ship owning company of the vessels, welcomes Reef Subsea as a 25% shareholder. Both vessels have been recently delivered to Neptune Offshore and should be transferred to Reef Subsea by mid-January 2012.

The sister ships are newly-built IMR and Subsea Construction vessels. Designed with the Ulstein X-Bow, they have a faster transit speed in head seas, and enjoy reduced fuel  consumption. The design also provides several advantages in the foreship and on the working decks making the vessels more environmentally and work friendly (read more in foot note). Designed for worldwide and deepwater services, they are equipped with 150t SWL crane with active heave compensation, an enclosed ROV hangar with integrated LARS for the deployment of Work Class ROVs on both sides of the vessel, a large moonpool and up to 750m² of working deck.

The  150t crane is able to work in over 2000m water depth and, with the Reef Subsea’s WROVs, the vessels will be able to operate in water depths up to 3000m. Both vessels are expected to work in the North Sea and in Europe to deliver projects sanctioned by clients from both the Oil & Gas and the Renewable Energy industries.

The vessels will be renamed Reef Despina and Reef Larissa

Mark Preece, Reef Subsea Chief Executive Officer, said: “I am extremely pleased we can increase Reef Subsea’s fleet with two newly-built environmentally friendly vessels. Our fleet is now comprised of four vessels, three of which are new.  These new vessels provide added value in our service to our Clients and excellent offshore working conditions for the Project teams. Our new share ownership in Neptune Subsea represents an element of control for the years to come as well as a potential ability to increase our participation.”

Bjørn Endresen, Neptune Offshore Chief Executive Officer, commented: “On behalf of Neptune Offshore and Neptune Subsea, I am very proud to see the two Vessels being well received in the market place, and we believe the Vessels will serve Reef Subsea, its clients and the market in general in a prosperous way.”

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Posted on November 16, 2011, in Dynamic positioning, MARINE VESSELS, North Sea, Subsea, United Kingdom and tagged , , , , , , , , , , , , . Bookmark the permalink. 1 Comment.