POSH buys BOA Deep C to expand service capabilities
PACC Offshore Services Holdings (POSH) has signed an agreement to acquire offshore construction vessel (OCV) BOA Deep C from BOA OCV with an aim of bolstering its service capabilities.
With the addition of the vessel, the company will complement the existing fleet with capabilities including subsea installation works and turnkey towage and installation services for the floating offshore wind and energy sector.
The 119-metre long DP-3 vessel will be renamed POSH Deep C and is set to join the POSH fleet in October 2022.
Its capabilities encompass deep water floaters and mooring installation and removal, installation of offshore floating wind structures and mooring systems as well as subsea umbilical, riser and flowlines (SURF) installation works.
“The acquisition of this versatile vessel is an important milestone in POSH’s transformation into a future-ready, sustainable solutions provider for the global energy sector”, said Low Soon Teck, CEO of POSH.
“We have a calibrated asset and talent growth plan driven by our continued operational resilience and financial discipline. Our team’s focus on operational excellence and our high-quality assets will enable us to safely deliver top-notch service to our clients.”
Earlier this year, POSH, in consortium with Seamec Limited won a contract worth more than $100 million for the seventh development phase of the Oil and Natural Gas Corporation (ONGC) Pipeline Replacement Project (PRP-7) offshore India.
Register for Offshore Energy Exhibition & Conference: