Vard wins billion dollar contract for Pipe Lay Support Vessels

By Finance

 Vard Holdings Limited has made a deal with joint ventures of DOF Subsea and Technip for the design and construction of four Pipe Lay Support Vessels (PLSVs).

The deal is important for VARD, this is the largest order in the history of the company and the estimated cost is around US$ 1.1 billion.

2 of the planned vessels with design VARD 3 05 will be ready for use in the middle of 2016. The hulls are planned to be built at Vard Tulcea (Romania) and outfitted in Vard Soviknes in Norway. The other part of the ships with design Vard 3 16 are planned for the end of 2016 and the beginning of 2017.

DOF and Technip will take part in the development of the design. Those ships built in Norway will carry pipelay towers rated at 650 tonnes, among the largest ever in the industry. Those vessels expected to be built in Brazil will be among the most complex ever made in Brazil.
Topside equipment for all 4 vessels will be delivered by Huisman of the Netherlands.

VARD - global shipbuilder, constructing offshore and specialized ships used in the offshore oil and gas exploration & production and oil services industries. The company offers wide range of marine services and products.
The main activity of the company is the innovative design of vessels: LNG-powered ferries, naval and coast guard vessels, fishing vessels and non-offshore related icebreakers with customers-specific applications.

DOF Subsea - main business is delivering integrated subsea solutions.

Technip - leading company in project management, engineering and construction for the energy industry. The main activity of the company is starting from the Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures.

Pipe Lay Support Vessels - A pipelaying vessel? This is a maritime vessel designed for the construction of subsea infrastructure. The main idea of these ships is to connect oil production platforms with refineries on shore.
For doing this work a typical pipelaying vessel carries a heavy lift crane is used to install pumps and valves, and equipment to lay pipe between subsea structures.