FINANCIAL NEWS

Drydocks World wins $110m CSS order

23 May 2010

(MENAFN) Drydocks World said that it has won a contract from Hallin Marine, an integrated energy industries service provider, to build a new state-of-the-art oil well intervention Compact Semi-Submersible (CSS) vessel at a total cost of $110 million, Gulf News reported.

The diesel/electric CSS’s primary function is to facilitate repair and maintenance to an existing well, via chemical injection on braided lines, extending perforation tunnels and effectively maximizing and extending the productive life of the well.

The CSS is equipped with four fixed-pitch Azimuth thruster units and full DP-3 capacity, which enables automatic as well as manual dynamic positioning/heading control in harsh environmental conditions, and has a multiple inherent fail-safe capability.

Denis Welch, Chief Executive Officer of Drydocks World ? Southeast Asia, noted that the vessel’s main capability of repair and maintenance is aligned with one of Drydocks World’s main strengths.

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