RBG's Namibian JV Wins Contract to Revamp Transocean's Sedneth 701

RBG has announced the first contract win -- worth over $8 million -- for its new Namibian joint venture. Elgin RBG PTY Limited is a 50/50 joint venture between RBG International Limited, a wholly owned subsidiary of RBG Ltd, and Elgin Brown & Hamer, the oldest ship repair company in South Africa, and has been established to provide support services to the West African drilling rig and ship repair and upgrade market.

The contract award, to repair and upgrade Transocean's Sedneth 701 semisub, is part of a wider master service agreement which will see Elgin RBG working for the leading offshore drilling contractor over a three year period.

From its premises in Walvis Bay, Namibia -- the country's only natural deepwater harbor -- Elgin RBG will deliver against an extensive surve and repair scope to the vessel and drilling systems, including ballast pipe work replacement, hull repairs, steel, electrical and HVACR works, as well as more traditional painting and blasting. Topside and subsea inspection of the rig will be handled by rope access technicians and divers respectively.

Traditionally, deepwater units in Angola have had to travel north to Cameroon or the Canary Isles, or south to Cape Town for works. Elgin RBG has positioned itself within a closer distance to where many of the drilling rigs are operated, thus reducing the tow time for works. The company plans to extend its reach to the wider West African coast, and further afield, in the future.

Calum Buchanan, Marine Director, commented, "At Walvis Bay, we are able to offer rig and ship owners the full spectrum of repair and upgrade facilities. We are fully equipped to deal with special periodic surveys within the shipyard, but similarly, we are able to carry out extensive services offshore, on the unit."

The current services offered by the company, coupled with ambitious future development plans, will make Elgin RBG the largest provider of rig and ship repair and upgrade services in the country.

He continued, "Namibia is a good proposition for rig and ship owners due to its stable political structure and governmental support of the industry. Importing and exporting is not overly onerous and if you follow the system items can be shipped in and out of the country with ease."

Namibia also offers clients a good foundation of skilled national labor force, which Elgin RBG plans to further enhance with rope access, welding and construction training. On the Transocean contract, project management, coordination and specialist skills will be handled by Elgin RBG with up to 450 national employees working on the outlined scope.