Giant OCV Island Venture to play key role for new alliance

Island Venture

APRIL 28, 2017 — The giant OCV Island Venture, delivered by Norway’s Ulstein Verft shipyard at the beginning of the year, will play a key role in a strategic alliance announced yesterday by Halliburton (NYSE: HAL), Trendsetter Engineering and and Edison Chouest Offshore’s C-Innovations.

The alliance will provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore well intervention packages.

The alliance leverages the companies’ strengths to create subsea solutions for hydraulic interventions. The combined packages will improve operator efficiency while addressing in-field production and subsea challenges.

“Our newest vessel, Island Venture, is considered the most capable multi-purpose supply vessel in the region and perhaps the world,” said Dino Chouest, CEO of C-Innovation. “Outfitted with equipment from all three companies, the vessel meets most subsea work requirements. Our fleet offerings provide operators with fully compliant rig alternatives while overcoming existing intervention limits in the market.”

“By working together, we are able to provide customers with cross-discipline accountability for seamless and reliable operations,” said Charles Kendrick, GOM region vice president for Halliburton. “This model reduces interface demand for customers while delivering safe, efficient and economical results.”

“Our combined approach has already resulted in successful campaigns that have reduced project costs, enabling operators to conduct more work and create value in a traditionally high-cost environment,” said Mario Lugo, chairman and CEO of Trendsetter. “To date, the alliance’s projects have included complex hydrate remediation, large acid stimulations, pipeline flushing, and inspection, maintenance and repair work in water depths up to 10,000 feet.”