Subsea 7 cuts steel on Seven Pacific

Subsea 7 has started construction on its next pipelay and offshore construction vessel as part of a $1bn investment campaign. The Aberdeen-based ship owner said steel was cut on the Seven Pacific vessel in the IHC Krimpen shipyard in the Netherlands.

The ship is due to be delivered in the fourth quarter of 2010 as the final asset of a long running newbuilding programme. The construction work cements Subsea 7 as one of the world’s top investors in new shipping at a time when owners in other sectors are cancelling orders. “We are investing in excess of $1bn in a number of new vessels and equipment that will enable us to offer the capability to deliver for our clients,” Subsea 7 chief executive Mel Fitzgerald said. “Our new vessels have enhanced our overall capacity, but are also equipped with new technology and the capability to service deepwater markets globally.”

The 133m long Seven Pacific will have a 260 tonne vertical lay tower so it could install pipelines in deepwater regions, such as West Africa, Brazil, south eastern Asia and the Gulf of Mexico. It will also have two remotely operated vehicles.

The $1bn investment is also going on two other ships under construction in Europe.

“The Seven Atlantic diving support vessel is due to be delivered in the third quarter and the Normand Subsea ROV support vessel is scheduled to join our fleet in the fourth quarter of this year,” a spokeswoman said. The Seven Atlantic is scheduled to be working for Dutch oil group Shell in the North Sea under a long term agreement.

The Normand Subsea would be on long term charter from Norwegian ship owner Solstad.