Rubicon Buys Multi-service Vessel

Rubicon Offshore International has completed the purchase of Rubicon Maverick (ex Maersk Reliance) multi-service vessel. The unit will be available for charter in the first quarter of 2008.

The Rubicon Maverick is a 105.8 meter state-of-the-art MSV built in Germany in 2001. The vessel will be upgraded to provide both high-end subsea installation as well as riser-based well intervention capability. In addition to the 60-tonne A-frame already on the vessel, a 150-tonne knuckle-boom crane will be installed. A moonpool is being installed over which a 250-tonne workover unit will be positioned. The system will be capable of providing riser-based well intervention and workover capability while also being able to carry out heavy subsea construction activity.

Jim Luke, Chief Executive Officer, stated "We are extremely pleased to be able to introduce this high-quality unit to the Asia-Pacific region. This subsea and well intervention business line has been in our plan from the outset and with our two FPSOs already under contract, it is time to move ahead with the MSV. The Rubicon Maverick will be a valuable and high-quality addition to an already tight installation / intervention regional market. While the vessel will be one of the most capable installation vessels in the region, we expect utilization in the well intervention mode to eventually dominate its schedule."

Rubicon Offshore International is an offshore services company focused on providing mobile production and life-of-field intervention services to the subsea and deepwater production market.

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