Ocean Installer has been awarded an agreement with Siccar Point Energy and Baker Hughes, a GE Company to support the appraisal and early production phases of the Cambo Project, with the ability to extend into the future developments.

Ocean Installer will execute the job as part of an innovative alliance with Baker Hughes, one of the world’s largest oil field services companies, which targets projects where Ocean Installer and Baker Hughes, a GE Company (BHGE) benefits each other.

“An alliance like this enables us to improve execution efficiency and risk mitigation through the creation of shared project objectives, and minimize tendering costs, with the ultimate objective of creating more efficient subsea solutions,” says Steinar Riise, CEO of Ocean Installer.

This is Ocean Installer’s first contract with Siccar Point, which has established itself as a key operator after acquiring OMV UK earlier this year. The field is located North-West of the Shetland Islands in the UK at a water depth of 1,100m, one of the deepest fields in Northern Europe yet to be developed. Over 100 million barrels of recoverable resources have already been discovered.

“We are delighted that Siccar Point has chosen to work with us. With several other upcoming projects in the pipeline, we hope this will be the first of many jobs we win with Siccar Point. We also look forward to working together on this project as part of a long-term collaboration with BHGE,” says Steinar Riise, CEO of Ocean Installer.

Phase 1 of the Cambo Field Development will be an early production system (EPS), followed by a Phase 2 full-field development. The project is scheduled to commence in 2018 and will be managed from the Ocean Installer Aberdeen office. The Construction Support Vessels Normand Vision and Normand Reach will be utilised for the offshore execution.

About Ocean Installer

Ocean Installer is a subsea company headquartered in Stavanger, Norway and with offices in Aberdeen, Houston, Dubai, Perth, Mexico City and Rio de Janeiro. Ocean Installer holds strong EPCI expertise within the SURF (Subsea, Umbilicals, Risers, Flowlines) segment and is rapidly expanding its operations and organisation within and beyond the North Sea basin.
Ocean Installer provides its clients with recognised first-rate assets and has secured long-term charters on three construction support vessels (CSV): Normand Clipper, Normand Mermaid and Normand Vision. Ocean Installer will continuously invest and develop its assets to fulfill its ambition to be a key service provider within the SURF segment.

Ocean Installer is majority-owned by HitecVision, a leading investor in the oil and gas industry.

Ocean Installer holds FPAL- and Achilles certifications, with systems established in accordance with the requirements set out in ISO 9001, 14001, 18001 and 31 000 standards.

About Baker Hughes, a GE company

Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions. We deploy minds and machines to enhance customer productivity, safety and environmental stewardship, while minimizing costs and risks at every step of the energy value chain. With operations in over 120 countries, we infuse over a century of experience with the spirit of a startup—inventing smarter ways to bring energy to the world.

About Siccar Point Energy

Siccar Point Energy is a full cycle production, development and exploration company focussed on high quality, low cost, long life assets on the UK Continental Shelf. The Company’s strategy is to build a portfolio of assets where they can utilise their extensive North Sea experience to create value through follow on investment and reserves growth. They have interests in three of the largest UK assets by remaining reserves (Schiehallion, Mariner and Rosebank) as well as an extensive portfolio of additional high quality material development and exploration opportunities. The Company is led by CEO Jonathan Roger and is headquartered in Aberdeen.