Marine construction contractor Ocean Installer, a Moreld subsidiary, has won two new contracts for the North Sea Giant subsea construction vessel.
The 2011-built vessel will be used in the offshore wind market for cable repair and cable installation gigs. The contracts are expected to take approximately three months of offshore work to complete.
Mobilisation for the cable repair job has already started, with the next project lined up for the third and fourth quarters of this year.
No exact value of the contract was given. However, the contract was described as sizeable, putting it in the NOK 100m to NOK 500m ($10m to $50m) range.
The vessel is a DP3 construction vessel equipped with a 400-ton active heave-compensated crane, 150t vertical lay spread system, and two work-class ROVs.
Ocean Installer has already secured a firm charter and optional periods on the vessel running into 2029.
