News

Strategic marine services agreement

Mon, 18 May 2015

James Fisher Marine Services has been awarded a lucrative marine services agreement with Balfour Beatty to deliver a range of integrated marine services in support of the group’s OFTO portfolio of offshore windfarms around the UK.

This agreement will provide a fully managed service for the supply of marine access solutions, support infrastructure and operation and maintenance services for the group's OFTO assets.

Richard Burmeister, managing director of James Fisher Marine Services, said: “This contract is a significant strategic development for JFMS, demonstrating our capabilities and ambition to be a supplier of choice to the OFTO market. The contract further enhances our relationship with Balfour Beatty and underscores the growth of the wider Group’s position within the marine and offshore energy sectors.”

The first activities under this agreement have already been successfully implemented. These include the provision of a dedicated access vessel, safety management system development and provision of dedicated facilities in the Port of Mostyn to support the safe mobilisation and transfer of Balfour Beatty technicians to the Gwynt y Mor substations.

Away from this agreement, JFMS is looking to further its market reach in the offshore sector even more by its recent acquisition of the subsea assets and intellectual property of X-Subsea UK Holdings Ltd for a total consideration of £14.8m.

X-Subsea was a leading operator of specialised excavation, trenching and dredging equipment, which was rented out worldwide for the oil and gas, telecomms and renewable energy sectors. The firm went into administration in April following the collapse of its Norwegian parent company, Reef Subsea.

Part of the strategy for buying up the company was that it was the main competitor to James Fisher Mass Flow Excavation Ltd, operating from bases in Aberdeen, Dubai, Singapore, and the Gulf of Mexico. Its equipment and tools, many of which are patented, are used in challenging environments to prevent damage to pipelines, cables, structures and the environment.

Kenneth Mackie, managing director of James Fisher Subsea Excavation, said: “Our market-leading capabilities have been further strengthened by the addition of the patented fleet acquired from X-Subsea. Complementing our existing offering, we now have the world’s largest subsea excavation capabilities, meaning we can provide an even stronger service to our clients globally. There is fantastic potential for these tools and services in the marketplace.”

The assets from the company will now be combined with the existing HydroDigger and TwinProp capability under James Fisher Subsea Excavation.

Source: Anne-Marie Causer

http://www.maritimejournal.com/news101/industry-news/strategic-marine-services-agreement

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