Subsea installation business sets up in Singapore

Singapore: Deep Sea Mooring (DSM), a supplier of mooring solutions and services for the offshore industry, has launched a new, specialist business dedicated to subsea installation solutions. Deep Sea Installation (DSI), which will initially focus on the FPSO segment, is opening in Singapore with 12 staff and an ambition to quickly establish itself in the key regional markets of Asia, West Africa and Europe.
 
“The FPSO market is growing fast, with $99bn forecast to be spent on floating production systems between 2014 and 2018*,” said Åge Straume, ceo of Deep Sea Mooring. “This is creating real demand for installation expertise and DSM recognises the potential for a business focused on this niche.”
 
“We understand this sector,” explained Vijay Mahindran, Managing Director of DSI, “and we’re wholly focused on giving our customers what they need most: namely, their assets in position and operating as quickly as possible, as efficiently as possible, with an unerring attention to detail, safety and the delivery of quality right through the line, on every project.”
 
Deep Sea Mooring is owned by HitecVision, a private equity provider in the oil and gas industry. [08/05/14]

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