Otto Marine's wholly owned subsidiary, Surf Subsea Pte Ltd is taking a 19.2% stake in the US based Joint Venture company, SURF Subsea Inc ("SURF"). SURF procured a 292-feet Class 2 DP MSV from liquidator worth US$55 million. The capability of the vessel allows the Group to enter into sub-sea and offshore construction works in addition to its current seismic activities, thereby creating more growth opportunities for its new business arm - Specialized Offshore Service.
The US-registered vessel, named DMT Emerald, is equipped with a 100 ton knuckle boom crane, a 100 ton heave compensated, multi-purpose lifting tower and a 23 ft X 27 ft moonpool. Furthermore, this vessel can comfortably accommodate 73 people and is outfitted with 2x 150 Hp, 10,000 ft depth rated Triton XLS work class ROVs and a helideck (Sikorsky 76 rated).
Its comprehensive fittings enable it to carry out field development works, flying lead installation, umbilical installation and various light to medium subsea construction tasks. These activities expand the Group's current spectrum of services rendered under its niche segment.