Technip, DOF Announce Delivery Of Skandi Açu; Commence Contract With Petrobras

(RTTNews) - French oil services firm Technip SA (TNHPF.PK, TKPPY.PK) and DOF Subsea announced Tuesday that through their 50/50 owned affiliate TechDof Brasil AS, they have taken final delivery of the pipe-lay support vessel or PLSV Skandi Açu.

The vessel has been approved for hire by Petrobras and commenced as per commitment on August 13 its 8-year charter contract. The vessel is the first of 4 PLSVs fixed on long-term charters with Petrobras which were awarded to the joint venture between DOF Subsea and Technip in August 2013.

The company noted that the vessel is designed to achieve a 650-ton laying tension capacity, thus enabling the installation of large diameter flexible pipes in ultra-deepwater environments, such as the Brazilian pre-salt.

The vessel has been built by VARD in Romania and Norway, and the main pipelaying equipment by Huisman in Czech Republic and in the Netherlands.

Skandi Açu has gone through complete sea-trials and acceptance tests by Petrobras. The long-term financing of Skandi Acu is arranged by Société Générale, GIEK and Eksportkreditt.

Hallvard Hasselknippe, President Subsea for Technip, stated that the new state-of-the-art PLSV has the most advanced pipelay equipment and highest flexible pipelay tension capacity in the world.

DOF Subsea CEO, Mons Aase, said, "The extensive newbuild program of 4 PLSVs together with Technip has combined the subsea and vessel expertise across our organizations. Taking final delivery of Skandi Açu and commencing the contract with Petrobras is an important milestone in our partnership with Technip, and the joint venture now has 3 vessels in operations."