New player emerges as Sea Trucks sheds four vessels
Telford Offshore, a new name in the global oil and gas industry, officially launched on Wednesday after acquiring four DP3 multi-purpose offshore construction vessels from Sea Trucks Group following its liquidation.
Sea Trucks, an offshore vessel and services provider, was placed under provisional liquidation in May last year.
As reported by Offshore Energy Today earlier this week, Sea Trucks sold four of its accommodation and construction vessels, the Jascon 25, Jascon 28, Jascon 31, and Jascon 34. However, Sea Trucks has not revealed the name of the buyer.
Telford Offshore, the newly-formed contracting company, said on Wednesday it had acquired those four DP3 vessels from Sea Trucks. The vessels can support multiple activities, focusing on high capacity accommodation combined with lifting, fabrication and installation services.
Telford Offshore provides services throughout the full lifecycle of operations in shallow and deep waters, on greenfield and brownfield developments and from installation to decommissioning, including IRM and modifications.
Headquartered in Dubai, Telford Offshore will focus on areas where the vessels and company project personnel have demonstrated their capabilities, namely West Africa, South East Asia, Middle East and Latin America, with subsidiaries or representatives in each of these territories.
Telford Offshore’s fleet comprises four vessels, all built between 2007 and 2011: Telford 25, Telford 28, Telford 31 and Telford 34. They are equipped with DP3 capabilities and permanent walk to work systems. Their multi-purpose capabilities ensure that diverse operations can be undertaken by one single vessel, Telford noted.
Each vessel is able to provide accommodation services, to transport, lift and install subsea or topside components, lay pipe and carry out subsea construction.
Telford Offshore expects more assets to expand the company fleet in the coming months.
Tom M. Ehret, Chairman of the Board, stated: “Throughout the downturn, the oil and gas industry has been focused on reducing cost. The pain and the lessons learnt must not be forgotten as we start to recover. Indeed, the focus will remain on keeping costs low while increasing efficiency. This is why we believe the time is right for Telford Offshore to launch their value proposition which is firmly anchored on these two driving forces and our strong culture of service, performance and safety.”
Fraser Moore, Chief Executive Officer, commented: “We have a sustainable balance sheet which should provide the confidence to both clients and other contractors that Telford Offshore will be a reliable partner in offshore engineering and construction activities. We have formed a new executive team, including Ivan Coyard (CFO) and Duncan MacPherson (COO), and combined with a hugely experienced board of Directors and the full support of investors, we believe we have developed a business platform that can provide stability and growth in the coming years.”