TSMarine Subsea adopts new trading name

TSMarine Subsea is trading under a new name, Marine Subsea (UK) Ltd., after the company completed a management buy-out (MBO) with support from Marine Subsea AS in September.

Offshore staff

ABERDEEN, UK -- TSMarine Subsea is trading under a new name, Marine Subsea (UK) Ltd., after the company completed a management buy-out (MBO) with support from Marine Subsea AS in September.

As part of Marine Subsea, UK subsidiary TSMarine Subsea (UK) is responsible for the operational management of the vessel Sarah, a newly built multipurpose offshore subsea construction and light well intervention vessel.

Alasdair Cowie will continue as MD of the UK company and will be responsible for ongoing development throughout Europe and West Africa.

Marine Subsea AS owns a fleet of eight units in operation or under construction, including two multipurpose/intervention vessels, five offshore support units, and one semisubmersible crane vessel. In addition, the company has secured a service contract for a deepwater drillship.

As part of Marine Subsea, the company will focus on the continued delivery of subsea rigless intervention, decommissioning, and construction services to the oil and gas industry in Europe and West Africa. Rigless intervention activities will be supported by well intervention specialists Lewis Ltd., a wholly owned company of Marine Subsea.

12/16/2009

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