Aker Marine Contractors entered into an agreement with BOA Ltd. covering use of the ship- owner's fleet of specialized vessels to install platforms and mooring systems in deepwater fields.
As part of the agreement, BOA acquired as much as a 40 percent interest in Aker Marine for about $6.2 million.
Aker Marine's parent company, Aker Maritime, retains the other 60 percent of the shares. The new agreement strengthens Aker Marine's efforts to offer new installation methods to the growing market for advanced subsea systems.
Under the new accord, Aker Marine gains access to BOA Ltd.'s fleet of transport barges, semisubmersible barges and modern anchor-handling vessels.
BOA also will place an order for a new construction vessel, which is expected to enter operation in the spring of 2002.
Aker Marine's main activities include tow-out and installation of platforms, mating of decks and substructures as well as design, fabrication and installation of mooring systems in deep waters.
Aker Marine and BOA have had a long tradition of cooperation, most recently on mating the deck and hull of the North Sea's Snorre B platform in late December.
© 2001 Mena Report (www.menareport.com)
