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.