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    DEME subsidiary GeoSea acquires Beluga Hochtief shares - to build and operate special purpose jack-up vessel

    Company News // July 8, 2011

    Hochtief has a new partner for the construction and operation of dynamically positioned offshore jack-up vessels for offshore windfarms and the offshore oil and gas sector.

    GeoSea, which is part of the DEME Group in Belgium, is taking over the shares in Beluga Hoctief Offshore shares that were sold by the heavy-lift shipping company Beluga on June 1, 2011.

    The company’s name will be entered in the Register of Companies as HGO Infra Sea Solutions GmbH & Co KG. Both companies have a 50 per cent shareholding. It was agreed that no details of the purchase price would be disclosed.

    HGO Infra Sea Solutions develops, constructs, manages and charters special purpose offshore vessels for the construction, maintenance and operation of offshore windfarms and oil and gas facilities.

    The new joint venture bundles the competences of two providers of offshore solutions. As one of the world’s biggest construction service providers, Hochtief possesses many years of experience in port construction, marine engineering and offshore logistics, and operates its own jack-up platforms.

    DEME is one of the world’s leading companies in dredging, marine engineering and environmental opertions. GeoSea is DEME’s specialist subsidiary company in the area of installation services for offshore structures, using its own jack-up platforms.

    Both partners plan to also extend their service spectrum to repair, maintain and decommission offshore facilities.

    Henner Mahlstedt, CEO of Hochtief Solutions said: “The services of the two companies complement each other perfectly and make the joint company a powerful player in the market. Since there is substantial demand for offshore installation equipment, we are planning the construction of further special-purpose vessels.”

    The joint venture is currently constructing Inovation I - a sophisticated heavy-duty vessel - at the Crist shipyard in Poland. The vessel will be unique in its kind, with a payload of 8,000 tonnes and a crane capable of lifting 1,500 tonnes will capable operating in water depths of more than 50m. The vessel will be ideally suited for the installation of all types of foundations.

    Alain Bernard, CEO of DEME Group, said: "It will be the equipment of choice for the installation of turbines of 5 to 10 MW. Innovation I will significantly reduce the assembly and servicing times required for the latest generation offshore wind turbines. In the oil and gas sector, the vessel is ideally suited for a wide range of operations”.

    The vessel will be commissioned in mid-2012 and has already been chartered amongst others by AREVA to install and maintain their multi-magawatt projects.

    The jack-up vessel will be used for the first time on the construction of the Global Tech I offshore windfarm.

    In 2010 HOCHTIEF Solutions AG and NORDSEE-GeoSea (both DEME subsidiaries) also founded a joint venture which is responsbile for delivering and erecting the foundations for the EnBW Baltic 2 offshore windfarm, and handles the logistics for the erection of the towers and turbines.

     

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