Deep Sea Mooring targets FPSO market with launch of Deep Sea Installation
Deep Sea Mooring (DSM), a leading supplier of mooring solutions and services for the offshore industry, is backing the launch of a new, specialist business dedicated to subsea installation solutions. Deep Sea Installation (DSI), which will initially focus on the FPSO segment, is opening in Singapore with 12 highly experienced staff and an ambition to quickly establish itself in the key regional markets of Asia, West Africa and Europe.
“The FPSO market is growing fast, with USD 99 billion forecast to be spent on floating production systems between 2014 and 2018*,” comments Åge Straume, CEO of Deep Sea Mooring. “This is creating real demand for installation expertise and DSM recognises the potential for a business focused on this niche. We see an excellent opportunity for a supplier that offers a comprehensive package of services, alongside individuals with genuine, market proven expertise.”
DSI’s start-up team has a track record of success from working together in various installation companies. They will now market their expertise to a broad base of international clients from their Singapore HQ, offering services that include the hook up of FPSO vessels, calm buoys and submerged buoys, alongside vessel positioning, towing, and mooring line pull-in and tensioning.
In addition, a wide array of complimentary services is available, including the maintenance and repair of existing mooring solutions.
“We understand this sector,” explains Vijay Mahindran, Managing Director of DSI, “and we’re wholly focused on giving our customers what they need most: namely, their assets in position and operating as quickly as possible, as efficiently as possible, with an unerring attention to detail, safety and the delivery of quality right through the line, on every project.”
DSM’s backing will allow DSI to invest in the most advanced, reliable and innovative offshore installation equipment available, while also giving the team access to an international network of offices for localised project management.
Deep Sea Installation is planning to expand its payroll to between 20 and 30 members of staff within the next two years.
“We’re an ambitious business,” Mahindran concludes, “and with our expertise and DSM’s backing, alongside the genuine market demand, we’ll be looking to establish credible market leadership in the exciting subsea installation sector.”
About Deep Sea Mooring:
Deep Sea Mooring is the trusted choice for E&P (exploration and production) companies and drilling operators that demand the best in safe, innovative and optimum quality mooring solutions. Founded in 2008, the business enjoys a position of market leadership on the Norwegian Continental Shelf and is now expanding internationally. The firm currently has operational bases in Mongstad and Kristiansund, employing 31 members of staff, and provides pre-lay mooring, rig moves, marine engineering, mooring equipment rental, and offshore services to its growing client base. Deep Sea Mooring is owned by HitecVision, a leading private equity provider in the oil and gas industry.
About HitecVision:
HitecVision is a private equity investment company focused on business opportunities within the upstream oil and gas industry. Headquartered in Stavanger, Norway, with additional offices in Oslo and Houston, HitecVision currently manages four private equity funds with a total committed capital base of USD 3 billion. At present there are 24 companies within its oil and gas ownership portfolio.
For further information please contact:
Åge Straume – CEO – Deep Sea Mooring, ph. no +47 90769823 (aast@deepseamooring.com)
Vijay Mahindran – MD- Deep Sea Installation, ph. +65 97123215 (vima@deepseamooring.com)