Reef Subsea Charters for Five Years New-Built Subsea Construction Vessel (Norway)

Technocean AS, a subsidiary of Reef Subsea AS, which has been recently awarded a multi-year frame agreement contract, has secured a three-year firm charter with two yearly options of one of the new-built subsea construction vessels (IMR/CSV) from GC Rieber Shipping. Polar King will be delivered to Technocean circa mid-April 2011.

The vessel, certified to IMO SPS 2008 requirements, will be equipped with two 3000m rated work class Perry Slingsby ROV systems, installed in a ROV hangar with dedicated AHC LARS systems. Polar King will also be equipped with a 150t AHC crane dimensioned and designed for lifting operations up to 3000m water depths. Her 1000m2 back deck and main moonpool will make her an ideal working platform for the global IRM/CSV market.

Mark Preece, Reef Subsea Chief Executive Officer, said “With the Polar King, Technocean will not only be able to fulfill its current commitments, but will also be able to address the coming year’s requirements of the oil & gas and renewable energy markets. Thanks to the extended capabilities of this new-built vessel, Reef Subsea will be in a very strong position to offer cost-effective integrated services to Operators and Contractors for their subsea construction projects”.

Reef Subsea AS is an international group providing cost-effective integrated subsea services to the oil & gas and renewables industries. Its specialized subsidiaries – Technocean, Scanmudring, Bluestone Offshore and S3 – provide operators and contractors with highly experienced personnel, key subsea technologies and construction support vessels. Reef Subsea serves its clients in the deepwater or demanding environments of the North Sea, South East Asia and North Atlantic areas. Reef Subsea is a 50/50 owned company of GC Rieber Shipping and HitecVision.

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Source: reefsubsea ,February 23, 2011;