Semco and PV Join Forces for Rig Upgrade

Semco Maritime and PetroVietnam Marine Shipyard join forces to establish high class rig upgrade player in South East Asia - Vung Tau Rig Services. The initiative shall tap into the growing market for rig upgrades in the region.

Semco Maritime opens new office at the PetroVietnam Marine Shipyard office building to strengthen the strategic partnership PetroVietnam Marine Shipyard (PVMS) and Semco Maritime JSC have entered into a strategic partnership with the aim to perform rig repair, refurbishment and upgrades in Vietnam for local and international rig operators in the region.

The companies are combining their strong competences to offer high quality and cost efficient solutions under the alliance brand name: Vung Tau Rig Services.

Vung Tau Rig Services is a competitive and strong new provider of rig services in South East Asia. Semco Maritime and PVMS have worked together since 2012 and the partnership successfully completed two major rig upgrades in 2013. Now was the time to strengthen the cooperation even further.

“We’ve had operations in Vietnam since 2010, and we have been very active within accommodation modules,” says Morten Clausen, Managing Director of Semco Maritime JSC. “Now we are ready for phase two of our business plan with a focus on upgrades for the South East Asian offshore rig market and doing that with PVMS in our joint Vung Tau Rig Services holds very promising prospects and adds significantly to our South East Asia presence,” says Morten Clausen.

To strengthen the partnership Semco Maritime moved their office to the PVMS building. The grand opening of the new Semco Maritime office took place on the 22nd of July 2014 and the opening was well attended by clients and business partners.

The prospects for upgrades in the South East Asian offshore rig market are positive. Some 25 rigs are currently operating in Vietnamese waters and the access to upgrades in Vietnam will appeal to rig owners now having an alternative to moving their rigs to Singapore to have them upgraded. This saves both time and money and the new Vung Tau Rig Services is already looking for quay facilities to allow for upgrades of even larger rigs than now.

Mr. Phan Tu’ Giang, Managing Director of PetroVietnam Marine shipyard is pleased with the prospects as well: “We welcome Semco Maritime in our house and as a trusted partner. We unite our competences, enabling us to meet our common goal - to become a leading rig service specialist in Asia. We are proud to generate more jobs to local supply chain as well as skilled specialists.”

Semco Maritime