Telford Offshore, a new name in the global oil and gas industry, has officially launched following the acquisition of four DP3 multi-purpose offshore construction vessels from Sea Trucks.
Headquartered in Dubai, Telford Offshore has a global presence and will focus on West Africa, South East Asia, Middle East and Latin America, with subsidiaries or representatives in each of these territories.
Telford Offshore benefits from the vast range of project experience brought across from past companies and the leadership of seasoned senior management. It is be able to adapt to the cultural needs of different clients and of a diverse workforce.
Tom M. Ehret , chairman of the board, stated: “Throughout the downturn, the oil and gas industry has been focused on reducing cost. The pain and the lessons learnt must not be forgotten as we start to recover. Indeed, the focus will remain on keeping costs low while increasing efficiency. This is why we believe the time is right for Telford Offshore to launch their value proposition which is firmly anchored on these two driving forces and our strong culture of service, performance and safety.”
Fraser Moore , chief executive officer, said: “Our goal is to reward the support our investors have provided to Telford Offshore by increasing the value of our company over the coming years. With the combination of our proven multi-purpose assets and our strong, resourceful teams, both onshore and offshore, we are confident we will succeed.
“We have a sustainable balance sheet which should provide the confidence to both clients and other contractors that Telford Offshore will be a reliable partner in offshore engineering and construction activities. We have formed a new executive team, including Ivan Coyard (CFO) and Duncan MacPherson (COO), and combined with a hugely experienced board of directors and the full support of investors, we believe we have developed a business platform that can provide stability and growth in the coming years.”
Telford Offshore’s fleet comprises four modern vessels, all built between 2007 and 2011: Telford 25, Telford 28, Telford 31 and Telford 34.
Each vessel is able to provide accommodation services, to transport, lift and install subsea or topside components, lay pipe and carry out subsea construction.
Telford Offshore said it expects more assets to expand the company fleet in the coming months.