Bibby Offshore: North America update

Bibby Offshore Holdings Limited, the subsea services provider to the oil and gas industry, has announced an update on its North American operations, including a significant contract win with a leading international oil company by Bibby Subsea, the Company’s Houston-based division.

Contract win

Bibby Subsea, through its strategic alliance with Aqueos Corporation, has secured a multi-million dollar decommissioning project in the Gulf of Mexico for a leading international oil company. The work will be undertaken during the first half of 2016 and the DSV Bibby Sapphire will relocate to the Gulf of Mexico during December 2015 to work on this project.

The North American market is a key focus area for the Company and this contract win further expands Bibby Offshore’s saturation diving capabilities in this offshore market. 

Brandon Bordelon

The position with the MV Brandon Bordelon remains, as reported at the recent Q3 2015 results, that Bibby Subsea has cancelled the charter party in line with the contractual terms and has not incurred any penalty from the cancellation notice issued for the vessel.

Howard Woodcock, Chief Executive of Bibby Offshore, commented:

“North America remains a focus for our international expansion. We have a clear commitment to this region and will continue to develop our strategic alliance with Aqueos Corporation. The contract win announced today is a direct result of our strategic alliance with Aqueos, as well as Bibby Offshore’s successful and long standing track record with the leading international oil company. The broader market remains challenging, but this new project demonstrates and endorses our ability to secure contracts in a highly competitive market.”

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/15122015/bibby-offshore-north-america-update/