Milestone for IKM Subsea

11.08.2016
IKM Subsea AS (IKM) is pleased to announce the receipt of contract award for “ROV and Subsea services for Visund and Snorre B” with Statoil.

The contract has duration of 10 years firm and the contract value for IKM is up to 0.75 billion NOK in total for this period. The contract may be extended for a further period of 15 years. The contract represents a significant milestone and acknowledgement for IKM Subsea as a company, involving operational as well as technological challenges.

For first time in history, Statoil and IKM will introduce the so-called concept of RROV (Residential ROV). RROV represents a permanently subsea-installed ROV system operated from a dedicated operational base positioned onshore. This concept will define future applications of ROV technology, produce major operational advantages, and produce a platform for cost savings as compared to existing ROV concepts.

The contract referred to, will combine use of existing proprietary Merlin ROV technology in combination with RROV technology to be developed throughout this contract.

Similarly, the staffing of the operations will be a combination of traditional offshore crews in symbiosis with onshore crew operating the IKM developed control center onshore.



Business Development Manager at IKM Subsea, Mr. Hans Fjellanger comments:
“We are very pleased to receive this acknowledgment from Statoil in a tough market. This shows that hard work, dedication and commitment pays off in the end. We are happy to, jointly with Statoil, be able to present new and revolutionary ROV concepts and technology to the industry, producing potential for significant cost savings”.

Managing Director of IKM Subsea, Mr. Ben Pollard closes:
“This major achievement is an important milestone for IKM Subsea. We expect this contract and the subsequent new technology thereof to produce a game-changer to the ROV market segment. IKM Subsea is the company chosen for this development. Our dedication and drive to present alternative technology leading to operational cost reductions secures our market position and future revenues as well as safe jobs for our employees

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The IKM Group:
The company is part of the IKM group, being a multidiscipline sub supplier to the oil and gas industry. The IKM Group priority areas are growth: growth in sales, growth in profits and growth in the services supplied. IKM Group will continue to establish new businesses, do acquisitions and alliances in order to constantly improve and develop IKM as a quality supplier. The group does currently employ about 2450 employees and has a budgeted turnover of $520M for 2016.

Location: Norway









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