Carimin, Bermuda Subsea join forces (Malaysia)
- Business & Finance
Carimin Petroleum’s subsidiary Carimin Engineering, has on November 19, 2014 entered into a collaboration agreement (COA) with Bermuda Subsea.
Carimin Engineering is focused on hook-up and commissioning (HUC), and maintenance of oil and gas platform’s topside facilities, while Bermuda Subsea is focused on underwater services for Remotely Operated Vehicle (ROV) and diving services.
With this agreement, the two companies will combine its resources and expertise to pursue selective opportunities involving HUC, topside and subsea services which are, according to Carimin, often executed simultaneously in the Malaysian market.
Carimin says that Bermuda Subsea is currently bidding for provision of underwater inspection, repair and maintenance services projects and in case the company is successful in the bids, it will consider support from Carimin Engineering. Carimin will therefore, according to the agreement, provide the project financing support in terms of marine assets and equipment such as DP2 Diving Support Vessel (DP2DSV), Saturation & Air Diving Services, Light Work Class ROV and other underwater tooling/services. However, Carimin Engineering is not obliged to provide project financing.
Both companies will, according to the agreement, continue to collaborate in joint tender bidding activities; predominantly Bermuda Subsea will continue to support Carimin Engineering to complement the underwater services requirements and vice-versa Carimin Engineering to get support from Bermuda Subsea for underwater services requirements within HUC projects.
Carimin Engineering says it will ensure the offshore support vessels acquired to support HUC projects will be upgraded/ enhanced to qualify for underwater services requirements as much as possible. Furthermore, both parties will share resources on the DP2 vessel technical specifications during the design stages to ensure the capability of the support vessel will cover both HUC, topside and subsea services requirements.
The joint collaboration on the design stages will transform a Carimin Engineering vessel into a DP2 Multi-Purpose Support Vessel which will be sufficient to support HUC and other topside requirements as well as for underwater services requirements.