Carimin Engineering has on November 19, 2014 entered into a collaboration agreement (COA) with Bermuda Subsea.
Carimin Engineering has experience and expertise on HUC, topside facilities maintenance of oil and gas platforms while Bermuda Subsea has been predominantly focusing in underwater services for Remotely Operated Vehicle (ROV) and Diving Services.
According to the release, Carimin Engineering and Bermuda Subsea want to combine their resources and expertise in order to pursue selective opportunities involving HUC, topside and subsea services which are often executed simultaneously in the Malaysian market subject to the terms of the COA.
Bermuda Subsea is currently bidding for the provision of underwater inspection, repair and maintenance services projects.
Should Bermuda Subsea be successful in the bids, it will consider support from Carimin Engineering to provide the project financing support in terms of marine assets and equipment such as DP2 Diving Support Vessel (DP2DSV), Saturation & Air Diving Services, Light Work Class ROV and other underwater tooling/services. For the avoidance of doubt, Carimin Engineering is not obliged to provide project financing.
Both companies will where possible continue to collaborate in joint tender bidding activities; predominantly Bermuda Subsea will continue to support Carimin Engineering to complement the underwater services requirements and vice-versa Carimin Engineering to get support from Bermuda Subsea for underwater services requirements within HUC projects.
Carimin Engineering on best effort basis shall ensure the offshore support vessels acquired to support HUC projects will be upgraded/ enhanced to qualify for underwater services requirements as much as possible. Both parties will share resources on the DP2 vessel technical specifications during the design stages to ensure the capability of the support vessel will cover both HUC, topside and subsea services requirements.
The joint collaboration on the design stages shall transform Carimin Engineering vessel into a DP2 Multi-Purpose Support Vessel which will be sufficient to support HUC and other topside requirements as well as for underwater services requirements.
The COA has taken effect on 19 November 2014 and will continue to be valid and binding until the expiry of a period of one year. The companies also agreed that the COA can be terminated or extended upon mutual agreement.