Hallin Marine lands Caspian deal

Contracts, Tenders and Rates - September 17, 2009

Hallin Marine has been awarded a five year contract by Dalgidj Private Company for ROV drilling support services in the Caspian Sea, off the coast of Azerbaijan.

The contract is scheduled to commence in late October this year and is in support of BP’s drilling programme from fixed platforms in the Caspian Sea.

The contract is split into two parts. For the first two years Hallin will provide two of its Quasar Compact ROVs, complete with specialised tooling and operational personnel to Dalgidj PC, the Azeri company.

At the end of two years, Hallin will sell the two ROVs at a price already agreed to Dalgidj PC and continue to give technical and project support from onshore Baku, Azerbaijan for a further three years.

The total package of work, including the proceeds from the sale of the ROVs, which at the time of the sale will be five years old, is in excess of US$20 million.

As part of the contract Hallin will design and manufacture specialised ROV intervention tooling, utilising the in-house design capabilities of its wholly-owned subsidiaries - Malton based Hallin Robotics Limited and Prospect Flow Solutions Ltd.

Hallin’s forward orderbook, including this contract, now stands at a figure in excess of US$75 million.

Mike Arnold, Hallin West Division’s MD, said: "We are pleased to be awarded this contract in support of BP’s drilling program and to be working with Dalgidj PC, who are a well established business with a first-class track record. ‘We have been working closely with all parties since October of last year to ensure we have the best structure to ensure the ultimate success for this project."