Ocean Installer announces receipt of first letter of intent in the UK market


Mar 13, 2012


Ocean Installer

13th March 2012

Ocean Installer announces receipt of a Letter of Intent (LOI) from Xcite Energy Resources Ltd (“XER”) for the installation of two oil export pipelines from the Rowan Norway jack-up to a shuttle tanker.

The LOI received for XER for the Bentley field is for the installation of two oil export pipelines of 2.1 km each from the Rowan Norway production jack-up to a shuttle tanker. The work is expected to be performed in April 2012, using the subcontracted vessel from Reef Subsea Power and Umbilical, Polar Prince.

“We are very pleased with this LOI from XER. This is an important milestone for Ocean Installer as the contract marks our entry into the UK subsea market”, says Steinar Riise, CEO of Ocean Installer.

The Bentley field is located in UKCS Block 9/3B approx. 160 km East of Shetlands at a water depth of 113 m. XER is embarking on Step 1A of its planned development program for Bentley (FPD-1A). The FPD-1A program comprises one production well with two laterals, drilled from the Rowan Norway jack-up, producing across the jack-up through process kit to degas and stabilize the crude, prior to pipeline transfer to a dynamically positioned shuttle tanker.


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About Ocean Installer
Ocean Installer is a Stavanger based subsea construction company with a global reach, established in January 2011 by the company’s management with financial backing from HitecVision. The company is rapidly expanding its organization, which at present counts 70 employees with extensive experience and solid competencies in the area of subsea construction, engineering and services. Ocean Installer holds FPAL- and Achilles certifications, with systems established in accordance with the requirements set out in ISO 9001, 14001, 18001 and 31 000 standards.

Ocean Installer provides its customers with established and first-rate assets. Following the initial short term sub-contract of the vessel from Reef Subsea Power & Umbilical, Ocean Installer will in May 2012 commence the long-term charter of “Normand Clipper”, a vessel recognized as a highly efficient CSV in the subsea construction market. Ocean Installer will continuously invest and develop its assets to fulfill its vision to be a key service provider within the SURF segment.

For further information, please visit: www.oceaninstaller.com

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