New offshore services provider acquires four vessels

Telford Offshore has officially launched after acquiring four DP-3 multi-purpose offshore construction vessels from Sea Trucks Group following its liquidation.

Feb 14th, 2018

Offshore staff

DUBAI, UAE– Telford Offshore has officially launched after acquiring four DP-3 multi-purpose offshore construction vessels from Sea Trucks Group following its liquidation.

Headquartered in Dubai, the offshore services provider’ fleet includes theTelford 25, Telford 28, Telford 31, and Telford 34.

Built between 2007 and 2011, each vessel can provide accommodation services, transport, lift, and install subsea or topsides components, lay pipe and carry out subsea construction.

The company’s executive team includes Fraser Moore, CEO; Ivan Coyard, CFO; and Duncan MacPherson, COO.

The board of directors are Tom M. Ehret, chairman of the board, Olivier Carré, Ken Igbokwe, L. Spencer Wells, and Fraser Moore.

Tom M. Ehret, chairman of the board, said: “Throughout the downturn, the oil and gas industry has been focused on reducing cost. The pain and the lessons learnt must not be forgotten as we start to recover. Indeed, the focus will remain on keeping costs low while increasing efficiency. This is why we believe the time is right for Telford Offshore to launch their value proposition which is firmly anchored on these two driving forces and our strong culture of service, performance and safety.”

CEO Fraser Moore added: “Our goal is to reward the support our investors have provided to Telford Offshore by increasing the value of our company over the coming years. With the combination of our proven multi-purpose assets and our strong, resourceful teams, both onshore and offshore, we are confident we will succeed.”

Telford Offshore expects to expand its fleet in the coming months.

02/14/2018

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