Norway: Reef Subsea Charters Subsea Construction Vessel from Olympic Shipping

Reef Subsea announced they have signed a five-year plus options charter for a new-built dynamically positioned subsea construction vessel from Olympic Shipping AS in Norway. The vessel, to be named “Olympic Reef”, built by Kleven Maritime in Norway, is to be delivered in August 2013. The vessel will be of type MT 6022 Mkll, designed for low fuel consumption and excellent sea and station-keeping.

To be able to better serve the IRM and Construction market the vessel is being equipped with both a 250 ton and a 50 ton Active Heave Compensated (AHC) Offshore Crane in addition to two (2) Work Class ROVs (WROV’s). The WROV’s will be located within hangars and each will have a dedicated AHC Launch and Recovery system with 5.5mHs capability.

The vessel will have an impressive main deck area of 1300m2, a work moonpool of 7.2m x 7.2m and removable bulwarks. She will be equipped with a shelter deck for the addition of an Observation Class ROV, and have superior accommodation and facilities for a total of 110 persons.

A number of enhancements are being made to the vessel’s initial specifications to meet the most rigorous client requirements within Reef Subsea’s operating regions. They include increased helideck loading of 15 tons to allow refuelling at sea, self-contained gangways on both sides of the vessel, and increased power and utility stations on the main deck. These come in addition to low noise and reduced vibration in the hull and superstructure to ensure high comfort and safety for all people working on-board. Flagged in the Bahamas, the Olympic Reef will serve Reef Subsea IRM and Subsea Construction clients from both the Oil & Gas and Renewables markets worldwide.

Mark Preece, Chief Executive Officer of the Reef Subsea Group, said: “We are delighted to welcome the Olympic Reef as the fifth vessel within the Reef Subsea fleet. Built according to the newest environmentally and work friendly specifications, she will provide the Group’s clients with cost-effective and flexible capabilities to fulfil their Projects. This new vessel will also help support our strategic vision of Reef Subsea becoming the best tier-two contractor worldwide”.

Duncan MacPherson, Managing Director of Reef Subsea IRM & Construction, said: “We are delighted to have secured the Olympic Reef for a minimum of 5 years. The vessel has been designed and specified to satisfy the needs of our clients for faster, safer and more efficient vessels to conduct IRM and Construction projects. The capabilities and specification of the vessel will allow us to execute larger and more complex projects in line with our strategy to become a leading contractor in IRM & Construction”.

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Press Release, January 15, 2013