Olympic secures work for subsea vessel fleet

Two of its 2015-built vessels, Olympic Artemis and Olympic Delta will be working for Reach Subsea on inspection, maintenance and repair (IMR) contracts during 2021. These contracts include options for mutually agreed extensions, taking them into 2022.

Reach said it had entered into a charter agreement with Olympic for these vessels to replace subsea vessel Topaz Tiamat, which is back with owner, P&O Maritime Logistics. It said this charter agreement was “structured in a way that enables Reach to offer a competitive subsea service to its clients”.

In a separate arrangement, Olympic has signed a contract with an international cable installation contractor to provide a vessel for the development of a windfarm offshore France. This contract includes work in both 2021 and 2022. Olympic said it would nominate the available vessel for this project at a later stage.

Meanwhile, its 2012-built MT 6015-design Olympic Orion will continue working in the Americas for a large unnamed international energy company, providing walk-to-work services.

Reach said it had mobilised a work-class ROV on to Olympic Artemis, under a co-operation agreement with Olympic, and has already completed several projects with the vessel since Q3 2020. A co-operation agreement will, from Q1 2021, be replaced with the new charter agreement, providing Reach with more commercial control of Olympic Artemis’ subsea spread going forward.

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Olympic Artemis was built by Kleven Yard in Norway to the highest North Sea standards with DP2 class dynamic positioning, diesel-electric and frequency controlled propulsion. It has accommodation for 72 people, a 60-tonne active heave compensated (AHC) subsea crane and a 4.8-m square moonpool.

Olympic Delta is a slightly larger version with DP2 positioning, 900-m² free deck area, two ROV hangars and an 80-tonne AHC subsea crane. Reach previously chartered this 2015-built vessel in 2017 and 2018. Olympic Delta will commence operations for Reach during Q1 2021.

Olympic chief operating officer Bjørn Kvalsund said these two vessels can operate in all weather conditions.

“Olympic Delta and Olympic Artemis were designed as fit-for-purpose survey and IMR vessels for operations in harsh environments,” he said. “We have worked together with Reach for several years and are confident this co-operation will bring us further in finding innovative ways of serving the offshore energy industry,” said Mr Kvalsund.

Reach chief executive Jostein Alendal commented “We are able to build on our position as a provider of energy efficient subsea spreads that fits nicely into our focus markets.”

Olympic operates a fleet of 10 subsea support vessels, plus two anchor handlers, two multipurpose support and one platform supply vessel.

Subsea projects and markets were discussed during Riviera’s Offshore Support Journal, Asia virtual conference, 2-3 December 2020