General – Partnership
DeepOcean and Saudi Arabia-based Jana Marine have signed a Heads of Terms agreement to establish a joint venture company that will offer integrated subsea solutions to the offshore energy industry in the Middle East.
The intended joint venture, to be named JADE Subsea Services, plans to enter into a five-year charter agreement with Jana Marine for a newbuild DP2 hybrid diving support vessel (DSV) capable of performing subsea construction, IMR (inspection, maintenance and repair), and dive support activities.
The joint venture will be able to tap into DeepOcean’s specialist subsea engineering and project management services to plan and execute subsea projects and operations.
“Jana Marine brings a newbuild vessel, marine expertise and deep local knowledge to the partnership. We contribute our subsea services capabilities, technology and specialist engineering. Together, this partnership will offer the offshore oil and gas industry in the Middle East region a highly competitive and fully integrated subsea services solution. Jana Marine has an extensive operating track record and alignment with Saudi Arabia’s localization program, so we look forward to embarking on this collaboration,” says Øyvind Mikaelsen, CEO of DeepOcean.
“Our strategy is to continue expanding our fleet for carrying out topside and subsea inspections, repair and maintenance of offshore oil and gas installations. We will provide purpose-built offshore support vessels and equipment, while DeepOcean brings their specialist subsea competence which is renowned globally. We look forward to jointly offering this in the Middle East through our JV partnership,” says Mohammad AlSubaie, CEO at Jana Marine.
