Geoquip Adds Second Offshore Support Vessel to Its Fleet

Geoquip Marine has added a second DP2 multi-purpose offshore support vessel, the Geoquip Speer, to its fleet.

Formerly known as MV Cristal, the Geoquip Speer, built in 2010, has a gross weight of 3504 tonnes and a length of 84 meters.

Following the acquisition, the Geoquip Marine is currently carrying out upgrades to make Geoquip Speer suitable for international DP operations.

This includes opening up the moonpool design so it can be fitted with a fully heave-compensated offshore geotechnical drilling rig.

When the refit is completed Geoquip Speer will start its first assignment, undertaking seabed CPT work in the Moray Firth before embarking on assignments in the Mediterranean and USA, the company noted.

Earlier this year the company added another OSV to its fleet, the Geoquip Saentis, which is currently undertaking its first assignment.

Geoquip Marine’s CEO Stewart Higginson said that the acquisition of Geoquip Speer represents the latest chapter in what has been an extremely busy and highly successful period in the growth of the business.

“This has come about organically following outstanding commercial performance that saw us successfully undertaking contracts with some of the most recognizable international brands in our target markets, including Conoco Phillips, ExxonMobil, Saudi Aramco and pre-eminent offshore wind farm developers.

“The commercial performance attracted a major investment from Njord Partners, a specialist European investment fund, last year. This has enabled us to increase the size of our fleet and make significant appointments at all levels of the business.

“The last few weeks alone have seen Geoquip Marine successfully tender for a whole series of new contract wins in West Africa, Northern and Central America, and in the Mediterranean, with partners in both the offshore wind and oil and gas sectors,” Stewart Higginson said.