Semco Maritime Secures 2nd Order from Transocean

Two contracts for the world's largest rig company, Transocean, will be carried out in Tromsø and Bergen. This strengthens Semco Maritime's strategy to service clients in the entire North Sea area.

Semco Maritime A/S has won their second order this spring for upgrade of a floating rig, semi-submersible; a project to be carried out in a Norwegian harbor. This latest contract for upgrade of Transocean Winner, strengthens Semco Maritime's strategy to carry out rig projects in any harbor in the North Sea area.

Transocean Winner is a large rig which can operate in water depths up to 1500 meters; it will arrive at a yard and service area in Askøy north of Bergen in August and in the following 45-50 days, Semco Maritime will carry out an extensive upgrade, repair and piping installations to optimize the rig for new projects in the Norwegian sector of the North Sea. The work will be carried out as a close cooperation between the Danish and Norwegian divisions of Semco Maritime and with local sub suppliers. Senior Vice President for rig repair, Hans-Peter Jørgensen, expects around 150 employees from Esbjerg and Stavanger to be working on Transocean Winner during its stay in Askøy.

"We have entered an agreement with Bergen Group, who will provide for yard facilities, personnel, logistics, anchoring and catering. We will carry out this contract employing staff from this partnership," said Hans-Peter Jørgensen.

The contract with the world's largest rig operator, including SPS and upgrade of Transocean Winner worth approximately DKK 100 million, also comprises two options for similar projects.

The project succeeds a smaller Transocean contract for a semi-submersible-rig Polar Pioneer which is being upgraded and repaired in Tromsø at the moment. The rig is scheduled to leave Tromsø again June 19.

"These two contracts are our first rig projects in Norway for a number of years and they are an important step in the right direction to fulfill our strategy of serving Norwegian, British and Danish clients in the entire North Sea area. This is the first time we have the main contract for semi-submersibles, It is an interesting market, as upgrades of this type of rigs is more complex and extensive than upgrade of jack-up rigs," said Hans-Peter Jørgensen.

The main contracts for the two Transocean rigs represent a value of about DKK 200 million and thus contribute to a good start of 2011 in one of Semco Maritime’s main markets.