PRESS RELEASE
3rd of September 2013

Ocean Installer has been awarded a SURF (Subsea structures, Umbilicals, Risers, Flowlines) contract for subsea lines modification work at several Statoil operated fields on the Norwegian Continental Shelf. The total contract value (firm) is approx. USD 55 million and with an additional potential (options) of approx. USD 95 million. 

– We are very pleased to announce our second contract with Statoil within the last six months. This is technically demanding work and the award demonstrates that the market has confidence in our project management and engineering capabilities and in our ability to execute challenging projects in a safe manner, says Steinar Riise, CEO of Ocean Installer.

The work scope comprises marine operations for replacement/installation of flexible risers, flowlines, jumpers, structures, and umbilicals, including all associated tie-in activities. Work locations are offshore installations at Statoil operated fields on the Norwegian Continental Shelf.

Project management and engineering will be based at Ocean Installer’s headquarter in Stavanger and commence with immediate effect, contributing to the further development of the Ocean Installer Stavanger organisation. Offshore operations will take place during the summer season of 2014, 2015, 2016 and potentially 2017. The new state of the art large construction support vessel (CSV), Normand Vision, will be utilised as the main installation vessel, with the possibility of a light construction support vessel also being employed.

– Normand Vision will be delivered to the market in June 2014 and we are pleased to already have secured such a large and prestigious contract for her. Normand Vision was designed exactly with these types of challenging North Sea operations in mind, so this award confirms that we are delivering a well suited vessel to the market, says Riise.

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About Ocean Installer
Ocean Installer is a subsea company headquartered in Stavanger, Norway and with offices in Aberdeen and Houston. Ocean Installer holds strong EPCI expertise within the SURF (Subsea, Umbilicals, Risers, Flowlines) segment and is rapidly expanding its operations and organisation within and beyond the North Sea basin.

Ocean Installer provides its clients with recognised first-rate assets and has secured long-term charters on two construction support vessels (CSV): Normand Clipper and Normand Mermaid. A third CSV, in which Ocean Installer has ownership, is under construction and is to be delivered in Q2 2014. Ocean Installer will continuously invest and develop its assets to fulfill its ambition to be a key service provider within the SURF segment.

Ocean Installer is majority-owned by HitecVision, a leading investor in the oil and gas industry.

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.

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