Ocean services provider DeepOcean says that it has signed with Saudi Arabia-based Jana Marine Services Co LLC (KSA) (Jana Marine) a Heads of Terms agreement to establish a joint venture company that will offer integrated subsea solutions to the offshore energy industry in the Middle East.
The intended joint venture, to be named JADE Subsea Services, plans to enter into a five-year charter agreement with Jana Marine for a newbuild DP2 hybrid diving support vessel (DSV) capable of performing subsea construction, IMR (inspection, maintenance and repair) and dive support activities. The joint venture will be able to tap into DeepOcean’s specialist subsea engineering and project management services to plan and execute subsea projects and operations.
Middle East presence
In May this year, DeepOcean entered the Middle East region through the acquisition of subsea service player Shelf Subsea, which has been present in Saudi Arabia for several years. DeepOcean’s vessel Oriental Dragon is currently operating in Saudi Arabia. DeepOcean has also opened an office in Abu Dhabi, United Emirates.
DeepOcean offers engineering and project management for subsea construction and installation, subsea survey and positioning services, subsea IMR services, as well as removal and recycling of subsea assets.
Jana Marine provides marine offshore services in the Arabian Gulf region and beyond. The company owns and operates a fleet of 35 offshore support vessels of different types, including ten Self Propelled Jack-up barges. The newbuild subsea vessel will be an addition to this fleet. Jana Marine has a strong local presence with approximately 1,800 employees delivering a broad range of specialized services, including offshore hook-ups, upgrades, modifications, installations, fabrication, maintenance, security systems integrations and commissioning support.
“Our strategy is to continue expanding our fleet for carrying out topside and subsea inspections, repair and maintenance of offshore oil and gas installations. We will provide purpose-built offshore support vessels and equipment, while DeepOcean brings their specialist subsea competence which is renowned globally. We look forward to jointly offering this in the Middle East through our JV partnership,” says Mohammad AlSubaie, CEO at Jana Marine.
