HitecVision is pleased to announce that Ocean Installer has ordered a large, advanced construction support vessel (CSV), with a total project capex of NOK 1,5 billion (USD 245 million).
The vessel will be delivered in Q2 2014. Ocean Installer will perform subsea construction project using the crane capacity and the Vertical Lay System onboard. The vessel, of type OSCV 06L, has been designed by shipbuilder STX OSV and Solstad. The equipment meeting the project execution capacity is defined by Ocean Installer. This cooperation has resulted in one of the most advanced CSVs built to date. Solstad Offshore is joint owner and the shipping partner with Ocean Installer. STX OSV is one of the major global designers and shipbuilders of offshore and specialized vessels used in the oil services industries.
The CSV is designed to operate efficiently under demanding conditions and is well suited for SURF (Subsea, Umbilical Risers and Flow line) operations. The vessel is 157 meters long, 27 meters wide and has an aft cargo deck area of 2100 square meters. She will be equipped with a 150t Vertical Lay System and a 3000t below deck carousel, Remotely Operated Vehicles in hangars launched through moon-pools, and two Active Heave Compensated offshore cranes (400t and 100t) that can both operate down to water depths of 3000 meters.
The investment rationale of constructing and owning the large CSV is to enter the marked requiring heavy lift of large subsea structures and laying flexible pipe and umbilical with large diameter through the Vertical Lay System on the deck. There is no marked availability of these vessels given that they are owned and controlled by the key players to protect the market share.
Since the establishment of Ocean Installer in January 2011, the business plan has been to establish a tier 1 subsea construction company, with core competence within the subsea segment operating this type of vessel. Ocean Installer will continuously invest and develop its assets to fulfil its ambition to be a key service provider within the SURF segment.
