J. Ray, Oceanteam award pipelay vessel contract to Metalships and Docks

Source: Oceanteam

Houston-based J. Ray McDermott, S.A. and Oceanteam ASA have awarded a contract to build a high capacity rigid-reeled pipe-lay vessel, CSV North Ocean 105, to Metalships and Docks S.A.U. shipyard in Vigo, Spain.

The CSV North Ocean 105 will be capable to install flexible products including submarine cables, umbilicals and flexible pipelines, rigid-reeled pipelines, subsea components and hardware, as well as deepwater moorings for floating facilities.

The anticipated delivery date of the CSV North Ocean 105 is early 2012, and the vessel is build under the Spanish Tax Lease structure. The vessel is fully financed and has a 5 year charter in place starting upon delivery between joint Norwegian ship owning company and J. Ray McDermott.

Oceanteam ASA has a 25% minority interest in the Norwegian ship owning company.

The North Ocean 105 is the fifth vessel in the North Ocean 100 series and parties expect to benefit from the efficiencies gained during the building of the previous four vessels.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs