Subsea 7 Orders DSV

IHC Holland Merwede BV announced that its subsidiary Merwede Shipyard received the contract for the design and construction of a new Diving Support / Offshore Construction vessel for Subsea 7. Merwede Shipyard was granted this order to be built under yard No 713, because of the successful and cost effective cooperation it has with Subsea 7 on two earlier orders for a Rigid Reeled Pipe Layer and a Flexible Pipe Layer, as well as for its ability to design and offer a fixed price for the vessel fully complying with the owner’s requirements including the integration of the complete dive spread, well treatment system and cranes within the required short delivery time and budget constraints of the customer. Delivery of the vessel will take place in the first quarter of 2009. The 24 men saturation dive spread will be designed and built by Divex.

The introduction of this DSV to the market will provide Subsea 7 with the most versatile and advanced vessel built to a higher specification than any other diving vessel currently in operation. The vessel is being built to fulfill the requirements of a contract obtained by Subsea 7 from Shell for diving support services in the North Sea. Subsea 7 stated the overall build project cost is estimated to be in the range of $200m.