Kreuz Subsea Wins 'Most Financially Significant' Contract in its History
Kreuz Subsea, a global subsea services company, announced Tuesday that it had secured the ‘most financially significant’ contract its history.
The contract, which is worth an undisclosed eight-figure sum, will see the company mobilize five vessels to deliver subsea completion works for Indian multi-national conglomerate Larsen & Toubro (L&T), from the start of 2018.
Under the deal, Kreuz Subsea will support L&T to install equipment that will help progress the Oil & Natural Gas Corporation’s (ONGC) Pipeline Replacement Project (PRP4) and Daman Field development projects off the west coast of India.
“Securing a contract of this size and with a major company like L&T is a fantastic achievement for the whole team at Kreuz and sets a record in the company’s history,” Kreuz Subsea CEO, AJ Jain, said in a company statement.
“The waters of Daman field are known for experiencing very high tidal currents and near zero visibility. Being awarded this work to ultimately support ONGC in the region reaffirms our reputation for providing flexible, safe operations, dedicated and experienced personnel, as well as the ability to pass on great value to our clients,” he added.
In November 2017, Kreuz Subsea bolstered its senior management team with the appointment of Phil Bradbury as QHSE director. Bradbury has more than 27 years’ experience in the oil and gas industry, and has held quality, health and safety related management roles at DSND, ISS, Harkand and most recently, Rocksalt Subsea ltd.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea