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ROLLS-ROYCE AWARDED ITS LARGEST SINGLE SUBSEA CONTRACT

Tue, 28 October 2014

Rolls-Royce has signed a major contract to supply a complete module handling system to the subsea construction vessel Aker Wayfarer. The vessel was built by Vard Søviknes in 2010 and will now undergo project modification work at Kleven's Myklebust Verft yard in Norway. The contract is with Ocean Yield ASA, and the vessel is under long term charter with AKOFS Offshore.

 

The £24M contract marks the largest single subsea vessel project ever undertaken by Rolls-Royce.

 

The 157m long, 16,000t Aker Wayfarer will be modified by Myklebust Verft to allow for the deepwater installation and retrieval of subsea equipment; subsea trees and modules, including subsea structures and manifolds.

 

Ståle Rasmussen, CEO of Kleven, said: "Myklebust Verft's location, in the very heart of the maritime cluster on the North West coast of Norway, is a great advantage for all parties involved in the project, and this serves as a great example of local cooperation between Kleven, Vard and Rolls-Royce."

 

The Rolls-Royce automated handling system consists of a complete tower structure, skid system, deepwater lifting system as well as power units and controls. The deepwater lifting system is a Fibre Rope Deployment System (FRDS), based on our patented Cable Traction Control Unit (CTCU) technology. The equipment is due for a delivery in the first quarter of 2016.

 

John Knudsen, Rolls-Royce President Commercial Marine, said: "This a very important contract for Rolls-Royce and it shows that the offshore industry has taken yet another step in accepting the superior performance of synthetic fibre ropes for lifting operations in deep and ultra-deep waters."

A similar system was installed by Rolls-Royce in 2009 onboard the AKOFS operated subsea equipment support vessel Skandi Santos, which has now been on contract with Petrobras for nearly five years. The vessel has successfully installed and retrieved subsea trees and modules in water depths up to 2300 meters.

 Geir Sjøberg, CEO of AKOFS Offshore, said: "Skandi Santos has been rated by Petrobras as one of their top performing vessels. Its track record makes us confident in the decision to install the handling system from Rolls-Royce on Aker Wayfarer."

  

About Rolls-Royce Holdings plc

 

1.   Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Land & Sea. These business segments address markets with two strong technology platforms, gas turbines and reciprocating engines.

2.   Aerospace comprises Civil Aerospace and Defence Aerospace. Land & Sea comprises Marine, Nuclear & Energy and Power Systems (RRPS). On 6 May 2014 Rolls-Royce announced it had signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a £785m cash consideration. On completion, expected before the end of December 2014, Rolls-Royce will receive a further £200 million for a 25 year licensing agreement.

3.   Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers, including 70 navies, and 1,600 energy and nuclear customers.

4.   Our business is focused on the 4Cs:

·      Customer - placing the customer at the heart of our business

·      Concentration - deciding where to grow and where not to

·      Cost - continually looking to increase efficiency

·      Cash - improving financial performance.

 

5.   Annual underlying revenue was £15.5 billion in 2013, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £70.4 billion at 30 June 2014.

6.   In 2013, Rolls-Royce invested £1.1 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.

7.   Rolls-Royce employs over 55,000 people in 45 countries. Over 17,000 of these are engineers.

8.   The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2013 we employed 379 graduates and 288 apprentices through our worldwide training programmes. Globally we have over 1,000 Rolls-Royce STEM ambassadors who are actively involved in education programmes and activities; we have set ourselves a target to reach 6 million people through our STEM outreach activities by 2020.

For further information, please contact:

 

Investors:

Simon Goodson

Director, Investor Relations

Rolls-Royce plc

Tel:      +44 (0)20 7227 9237

Email: simon.goodson@rolls-royce.com

 

Media:

Richard Wray

Director of External Communications

Rolls-Royce plc

Tel:      +44 (0)20 7227 9163

Mobile +44 (0)7974 918 416

Email:  richard.wray@rolls-royce.com

 

www.Rolls-Royce.com


This information is provided by RNS

The company news service from the London Stock Exchange

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