SUBSEA asset integrity manager N-Sea Group has secured a £45 million contract win for inspection, maintenance and repair (IMR) activity with a major North Sea operator.
The contract, which commenced the first of April, will see N-Sea commit its diving support vessel (DSV), the Siem Stork, to support IMR activities, for up to 150 days per year, depending on work scope, for the next three years.
The project will be managed by N-Sea’s UK operations, and will involve about 70 employees, with onsite operatives working from the vessel and diver intervention craft supported by an onshore project management team based in Aberdeen, UK.
N-Sea chief operating officer Roddy James said the contract win strengthened the company’s position in the region.
“Having recently established our presence within the UK, we have significant expansion plans this year and will be investing in new vessels, equipment and people to ensure we continue to deliver effective and cost efficient solutions to our clients,” he said.
The news came after N-Sea acquired the subsea division of fellow Dutch company Stork Technical Services for an undisclosed sum earlier this year.
Stork said the divestment followed a strategic review of its core business offering and increasing clients’ expectations, enabling it to focus on its work as an asset lifecycle integrity partner in the oil & gas industry.
The company would continue to develop and invest in technology associated with subsea integrity, cathodic protection, bolting, tensioning and tooling operations, which it said would not be affected by the sale of the Subsea business.
N-Sea said the acquisition re-affirmed its commitment to becoming a leading survey and inspection, maintenance and repair company.
The combined company will have 10 diving systems, nine ROVs, three offshore diving and ROV support vessels, three daughter craft diving rigid-hulled inflatable boats (RHIBs) and three support RHIBs as well as extensive data management and subsea engineering capabilities.
It will also employ more than 120 onshore staff from its two bases in Aberdeen and Zierikzee, as well as an average of 150 offshore staff.
Stork senior vice president for subsea, Roddy James, will join the N-Sea board of as chief operating officer.
Throughout the transition period Stork will work closely with N-Sea to ensure the continuity of ongoing contracts and service agreements as well as offering a sustained service to existing clients, the company said.
The move came just two months after Stork invested a further £2 million in its daughter craft The Edradour.