Stolt Offshore, SapuraCrest in pipelay vessel venture

Norway-based oil contractor Stolt Offshore S.A. announced Tuesday it had established a joint venture with Malaysia?s oil service SapuraCrest Petroleum to take over the build and operation of the Sapura 3000, a new-build heavy lift and pipelay vessel designed to be the most advanced deepwater construction ship in Asia Pacific region.

The Sapura 3000 is a US$200 million new-build Dynamically Positioned derrick pipelay vessel, with dual capabilities for conventional shallow water pipelay and very deepwater construction projects. The vessel is presently under construction in China and is planned to be in service in early 2007.

The partnership is targeting a number of deepwater construction projects particularly in Malaysia, Indonesia and Australia. (alex)