Pheranzy Announces Keel Laying of FOCAL522 PSV

Pheranzy Offshore Chairman and CEO, Chris Ezuede announced the Keel Laying of the first of two FOCAL522 Class 78M DP2 Platform Supply Vessels (PSV’s) at Hongda Marine Co, Ltd., China.

During the 8 August, 2013 ceremony held at Hongda Marine shipyard facility in Guangzhou, China, Ezuede addressed the group saying, “We are very excited to have this opportunity to begin this partnership with Hongda Marine for the building of the first of two state of the art PSV’s for our growing Nigerian fleet.”

Hull #1305 will be the first of two FOCAL522 Class 78M vessels entering the Pheranzy Offshore fleet working in Nigeria. Pheranzy Offshore is an indigenous Nigerian marine transportation company operating PSV’s, Tugs and Tank barges servicing Oil & Gas research and development operations in Nigeria, and the West Africa region. Pheranzy Offshore announced the signing of the contract for the two 78M PSV’s on 9 May 2013, and advised that this was the first step in growing the company’s expanding fleet of PSV’s, to meet the growing demands of the Nigeria Oil and Gas sector.

“We have worked very closely with the management of Hongda Marine Co, Ltd for many months to make this day a reality. This building program is in line with the Nigerian government’s aspiration to have local indigenous companies involved in the marine transportation sector of the oil and gas industry in Nigeria, thereby creating more jobs for Nigerians and exposing our people to the latest technologies in the maritime industry,” said Ezeude.

The FOCAL522 Class 78M DP2 design features 4,000 ton deadweight, 800 m2 deck cargo area, complement of 60 persons and carriage of multiple cargoes of fuel oil, base oil, fresh water, liquid mud, dry bulks and methanol. In addition to supply function, the design also includes oil recovery notation and FiFi 1 capacity for stand-by and emergency response, as well as capabilities to support ROV operations, subsea installation and offshore construction services.

Delivery for Hull #1305 is scheduled for 4th quarter 2014 and the second unit, Hull #1306 is scheduled to deliver the 1st quarter 2014. Plans are already being discussed for additional vessels, as Pheranzy Offshore advised that they are presently in talks with several major oil companies for long term contracts of their new build program.

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Press Release, September 10, 2013