Island Offshore, a leading global Light Well Intervention (LWI) specialist, has been selected by Premier Oil UK Limited to undertake a new LWI service contract on the UK Continental Shelf. The win strengthens Island Offshore’s established position in the dynamic and competitive North Sea marketplace.
Premier, a growing oil and gas exploration and production company, awarded the business to Island Offshore and the North Sea RLWI Alliance, the operator of three monohull vessels specially designed for well intervention tasks.
A key factor in the decision-making process was said to be Island Offshore’s extensive segment expertise, having successfully performed approximately 250 well interventions since 2005.
Commenting on the new business win, Robert Friedberg, Managing Director of Island Offshore Subsea , says: “Premier Oil is a new client for us and, with its proven track record and ambitious growth plans, an exciting name for us to partner with for the future. This is yet another important UKCS contract win for the company, consolidating our standing as a preferred supplier within both the sector and the wider industry.”
The agreement covers activity such as wireline services (a core Island Offshore competence), with work to be carried out by Island Constructor, a 120m long, 8,200 ton, state-of-the-art Ulstein built X-Bow vessel.
Friedberg adds that the Island Constructor is indicative of the firm’s specialism and long operational experience in the area, noting: “ It’s a cutting edge vessel custom-made to deliver excellent results, and value, for our clients in the most demanding natural environments – such as those experienced on the UKCS.”
He concludes: “ This is the third contract on the UKCS that the Island Constructor has won this year, demonstrating the tangible benefits of our investment in building a modern fleet of high-specification service vessels.”
The win follows on the back of Island Offshore’s successful acquisition of a number of North Sea well intervention services contracts earlier this year. The firm now has a leading segment position on both the Norwegian and UK Continental Shelf, built on the back of its proven pedigree and commitment to outstanding service levels, technology and results for its customers.
Press Release, August 29, 2013