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Reef Subsea Secures Offshore Operations Contracts in West Africa

Reef Subsea has secured two contracts for offshore operations in the West Africa region with a combined value of more than US$15M (£9.8 Million).

The firm’s IMR and Construction division, based in Bergen, Norway, is working with two major oil and gas companies on the projects in The Republic of Congo and Equatorial Guinea.

For both projects, Reef Subsea, which also has a presence in Aberdeen, Houston, Mandal in Norway and Surrey and Stockton-on-Tees in England, is providing operational support using one of its subsea construction support vessel’s, Reef Larissa, which will perform structure installations, ROV & survey operations and commissioning support in water depths down to 1400 metres. In addition, onshore engineering will be delivered from Reef Subsea’s Bergen office. Reef Subsea will add to the operational competence and experience involved in the projects while ensuring the scope of work is carried out in a safe and efficient manner.

Tim Sheehan, Executive VP Commercial of Reef Subsea, said: “We are delighted to have been awarded these two contracts, which confirm our teams and assets are well adapted to subsea construction operations in deepwater worldwide. We have already worked in West Africa over the past few years, and are pleased to be operating in this region again to strengthen our reputation further.”

Ørjan Lunde, Managing Director of Reef Subsea IRM & Construction, said: “We are pleased to have secured these two projects in West Africa with blue chip operating companies. West Africa will be a key region for us in the future to meet our strategy to become a leader in field of life IRM & Construction services.”

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

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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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