Horizon Offshore buys barge in Southeast AsiaVessel & ROV News // July 27, 2001
Currently in Indonesia, the 360ft long vessel has both pipelay and derrick capabilities. The vessel will be upgraded in Batam, Indonesia and should be complete by the end of the year. After the upgrade is complete, the vessel will become the company's largest combination barge, enabling it to perform turnkey projects in remote locations with a single mobilisation. The company plans to operate the vessel in Indonesia, Malaysia, as well as other areas in Southeast Asia.
This acquisition represents the company's entry into the Asian market and positions the company to pursue opportunities in this market. Horizon President and Chief Executive Officer, Bill J Lam said, "We are excited about the acquisition of this vessel and the prospects for the recovering Asian market. This acquisition represents another step in our business strategy and international expansion plans."