Headquartered in Aberdeen, TSMarine which recently secured £53 million investment from 3i and ABN AMRO Merchant Banking, has established itself as a leading global player in the niche subsea rigless intervention and decommissioning market. (US$1=£0.55).
With an annual revenue of £55 million, the company employs more than 120 people in Aberdeen, Bergen (Norway), and Perth (Australia), and is represented in Lagos, Nigeria.
TSMarine offers a range of rigless well intervention, decommissioning and construction support solutions to the global subsea oil and gas industry.
The Singapore office will be headed-up by newly appointed regional sales manager, Jason Hewlett with support from TSMarine’s management team in the company’s Perth Australia office.
This expansion in the international marketplace and the recent investment underlines a confidence in TSMarine’s growth prospects in the rapidly expanding subsea oil and gas sector, said Alasdair Cowie, CEO of TSMarine.
“Following the successful opening of the Perth office and the continued investment in TSMarine, establishing the new office in Singapore is the next phase in our growth strategy.
“In the last year we have undertaken a number of projects in the region so this is a timely expansion and I am confident it will allow TSMarine to capitalise on developing further opportunities in the Asian market.
“We expect to double our workforce and indeed turnover by 2009 and this expansion goes some way towards achieving this goal. I am delighted that we are going to be active in Singapore, bringing our established global expertise to the marketplace.”
TSMarine’s activities include rigless intervention, construction support and decommissioning from a fleet of modern, high specification vessels.
Established in 2004, the company operates a number of highly specified vessels equipped with all relevant ROV, positioning, project and well services systems. A new-build programme of three vessels to be owned by TSMarine is underway, with the first delivery scheduled for the end of 2008.