Kruez Confirms Deal with Chinese Yard for Subsea Vessel

Singapore-based Kruez Subsea Marine revealed Thursday that it has entered into a conditional agreement with a Chinese shipbuilder for a multipurpose subsea dive support and construction vessel worth $114 million.

Kruez Holdings disclosed in October last year that it expects to take delivery the vessel, 30 months from the contract's effective date.

The vessel, Kruez noted, will be equipped with a 140-tonne subsea crane, a 13,993-square-foot deck space, a pair of remote operated vehicles capable of operating at water depths of 9,483 feet and be able to accommodate 130 people.

"The proposed acquisition is undertaken as part of the company’s business strategy to expand its range of subsea services through the acquisition of new operating assets, thereby enhancing its subsea capabilities in shallow, deep and ultra-deep offshore oil and gas operations in the world," Kruez said in its earlier statement.

A spokesperson representing Kruez confirmed with Rigzone Thursday the details released in October remains unchanged.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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