Joint venture to supply deepwater mooring systems

Offshore staff

HOUSTON -- The Royal Lankhorst Euronete group and the Quintas & Quintas Group have established a joint venture to produce deepwater mooring systems for oil and gas platforms.

"As exploration moves to depths beyond 1,500 m (4,921 ft), it is no longer possible to use standard wire rope; synthetic mooring ropes of large diameters have to be used," the companies say.

The Royal Lankhorst Euronete group expects to increase its activities in this part of the oil and gas market. Quintas and Quintas group are considered a pioneer in the field of mooring oil platforms.

The new joint venture will be based in Póvoa do Varzim, 20 km (12 mi) from Oporto, Portugal.

5/8/2007

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