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    McDermott and Ocean Installer join forces in North Sea

    News // January 8, 2013

    Norwegian subsea company Ocean Installer and US-based McDermott have established an exclusive alliance to jointly meet customers’ rigid pipelay needs in the North Sea. The alliance marks McDermott’s re-entry into the North Sea.

    "We are very pleased that McDermott has chosen Ocean Installer as its partner for the development of rigid pipelay solutions in the North Sea and we look forward to advancing our capabilities further together. Not only is this arrangement beneficial to our two companies, it brings about increased supply and dynamic competition, showing how companies can work together to address growing needs in the market," said Steinar Riise, Chief Executive Officer of Ocean Installer.

    "With our expanding portfolio of deepwater subsea projects primarily in Asia Pacific and the Gulf of Mexico, we look forward to working together with Ocean Installer to pursue subsea installation projects that support the continued development of the North Sea and further expansion of Norway’s offshore energy reserves," said Stephen M Johnson, Chairman, President and Chief Executive Officer of McDermott.

    "This is another step towards McDermott becoming a tier one turnkey subsea engineering, procurement, construction and installation provider," Mr Johnson said.

    McDermott continues to expand its subsea resources including a growing fleet of rigid-pipelay vessels such as the lay vessel North Ocean 105, its sister ship lay vessel 108 (expected to be available mid-2014), and recently announced newbuild deepwater combination S-Lay vessel with 2,000 tonne crane, DLV 2000 (which is expected to be available in 2015).

    The North Sea subsea, umbilical, riser, flowline S(URF) market is expanding rapidly, noted the companies, and there is a clear need for additional capacity.

    The agreement commits the parties to exclusively pursue and jointly execute rigid pipelay projects in the North Sea and also serves as a framework for a more permanent relationship between the two companies.


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