Renaissance Subsidiary Wins $35 Million Abu Dhabi Contract

Renaissance's subsidiary Adyard LLC was awarded a $35 million contract by Single Buoy Moorings Inc. for the fabrication of a mobile offshore production unit for Talisman Energy to be located on the YME Field in the Norwegian sector of the North Sea.

The contract entails the fabrication and load out of the hull, topsides and related works. The process equipment will be fabricated in modules and installed on the hull at the Adyard jetty.

The work will be executed at Adyard’s 140,000sqm water front facilities located in the Mussafah industrial area of Abu Dhabi over an 18-month period.

Single Buoy Mooring Inc is a market leader in the conversion and operation of FPSO’s worldwide and this award marks the fourth contract Single Buoy Moorings has awarded to Adyard in the past 12 months following the award of two CALM Buoys and PLEMS and five modules for the Frade FPSO for Chevron.

In announcing the award Jim Masterton, general manager for Adyard Abu Dhabi LLC said: “Adyard’s expertise in offshore fabrication of heavy structures for the energy industry as well as our competitive pricing demonstrates our strengths and capabilities as one of the regions premier oil and gas fabrication company.”

Renaissance Services SAOG is an international services company listed on the Muscat Securities Market with a primary focus on providing safe, quality, efficient services to the oil and gas industry.