Technip acquires a new construction support vessel
Technip announces the acquisition of a new construction support vessel, the North Ocean 103, from Oceanteam ASA. The transaction has been completed through the purchase of the ship-owning entity, North Ocean III KS, for an undisclosed cash amount. The vessel is currently being built at the Metalships yard in Vigo, Spain and is scheduled for delivery in August 2009, prior to being fitted out to Technip’s specifications in 2009/2010.
This acquisition accelerates Technip’s strategy of renewing its fleet with state-of-the-art pipelay and construction vessels. The North Ocean 103 will enable the replacement of the Apache in 2010 with a wholly-owned vessel. This new vessel will carry out rigid pipelay operations in a wide variety of water depths.
Thierry Pilenko, Technip’s President and CEO, stated: “This operation illustrates our confidence in the Subsea market and reflects our willingness to enhance our competitiveness, using our liquid balance sheet to acquire world class assets and thereby reinforce our leadership.”
Technip is a world leader in the fields of project management, engineering and construction for the oil & gas industry, offering a comprehensive portfolio of innovative solutions and technologies.
With 23,000 employees around the world, integrated capabilities and proven expertise in underwater infrastructures (Subsea), offshore facilities (Offshore) and large processing units and plants on land (Onshore), Technip is a key contributor to the development of sustainable solutions for the energy challenges of the 21st century.
Present in 46 countries, Technip has operating centers and industrial assets (manufacturing plants, spoolbases, construction yard) on five continents, and operates its own fleet of specialized vessels for pipeline installation and subsea construction.
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