Bibby Offshore Announces Multi – Million Pound Investment

Aberdeen-based subsea installation contractor Bibby Offshore has announced a multi-million pound investment in marine assets for its core North Sea market.

From January 2012, the DP3 Diving Support Vessel, Toisa Polaris, will come under the control of Bibby Offshore. The vessel will be taken on a 2-year time charter with options to extend. This also includes a pre-agreed purchase option as part of the deal with Toisa Ltd.

The investment will immediately create approximately 100 jobs offshore and a further 50 onshore positions during the first 6 months of operation.

The Toisa Polaris has been one of the North Sea’s premier Diving Support Vessels for a number of years and has a recognised track record since her delivery in 1999.

Bibby Offshore’s Chief Executive, Howard Woodcock, said: “The vessel’s track record and specification not only enhances our current fleet but also expands our offshore service capability. It further underlines our commitment to the North Sea offshore market, which we believe has a significant part to play in our company’s continued growth.”

“This agreement firmly establishes our position as operators of the regions best in class DSV fleet and further emphasises our commitment to become a leading subsea construction and installation company. I am personally excited by the opportunities this will bring.”

This positive announcement comes quickly after the news that Bibby Offshore was to set up a Remotely Operated Vehicle’s division, Bibby Remote Intervention Limited, under the leadership of Managing Director, Mike Arnold. Bibby Remote Intervention will be responsible for ROV and survey operations across the vessel fleet including the DSV Toisa Polaris.

An investment is currently being made in ROV hardware with an Aberdeen-based firm being awarded the contract to supply the required equipment.

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Offshore Nieuws Staff , November 24, 2011; Image: Bibby Offshore