Oceanteam

[Keith Jones]

Can anyone confirm oceanteam P & U is in trouble

[James McLauchlan]

Financial advisors to explore all options for Oceanteam

Cash-strapped offshore wind farm subsea cable layer Oceanteam has hired financial advisors to explor “all strategic and financial options open to the company” after a deal to delay bond interest payments.

Oceanteam has bought in Oslo-based First Securities after yesterday securing bondholder approval to delay interest payments that were due on 18 March by adding another 5% and promising to pay up in full by 29 May 2009.

More information available to the public domain at:

http://www.rechargenews.com/business_area/finance/article175361.ece

[liddelljohn]

I am not suprised , they have brand new XLS ROVs but the company is not well managed for operations and relies on experienced Contractors as a the permies are mostly all trainees and the back orifice staff are incompetants ……eg: sending an ROV to a job with empty workshop,no tools ,spares consumables etc etc and half the control cabin equipment missing among other errors and then doing nought about it for 2 weeks.

[rover37]

Correct on the workshop stores situation but I must take issue on the experienced contractors front. On two seperate jobs/xlss both came back virtually trashed and cost a serious fortune to repair the damage!! Both contracts almost totally manned by contractors, probably not all as experienced as the cv made out.
Another point is that OPU is different to OSS the rov operating company.Although granted both owned by the same umbrella company.

[Ray Shields]

As one of the back orofice is ex Ops Manager from Fugro with MANY years experience I think not.

Are you needing a hand in workshop? Let me know if yr stuck and get Dave to call me 🙂

[ROV_Monkey]

Me too!!,
Haven’t spoken to Dave for a while…

Monkey

[Rons_ROV_Links]

Scottish jobs on line as Norwegian group cuts back

There are mounting fears for Scottish oil industry jobs after Norwegian listed offshore installation support company Oceanteam said it is cutting back its activities.

Read more…

[digitellus]

I witnessed one of the subs going straight out to the job with a complete team of contractors half of which seemed to be trainees. I felt very sorry for the 3 senior guys trying their best.

System had no (not a single item) tools in the workshop…none!
Stystem had no spares and no consumables either…nothing

They begged and borrowed from other techs onboard just to make the mob happen.

The office dweller promised the crew the spares and tools would be delivered by helicopter in 2 days time.

Needless to say it was a disaster!

[Scott Beveridge]

I witnessed one of the subs going straight out to the job with a complete team of contractors half of which seemed to be trainees. I felt very sorry for the 3 senior guys trying their best.

System had no (not a single item) tools in the workshop…none!
Stystem had no spares and no consumables either…nothing

They begged and borrowed from other techs onboard just to make the mob happen.

The office dweller promised the crew the spares and tools would be delivered by helicopter in 2 days time.

Needless to say it was a disaster!

Digi,

It’s not the only company that has p_ss-poor support… AND the "trainee boom". A few of the big boys have done / still do it…. sad.

[liddelljohn]

I witnessed one of the subs going straight out to the job with a complete team of contractors half of which seemed to be trainees. I felt very sorry for the 3 senior guys trying their best.

System had no (not a single item) tools in the workshop…none!
Stystem had no spares and no consumables either…nothing

They begged and borrowed from other techs onboard just to make the mob happen.

The office dweller promised the crew the spares and tools would be delivered by helicopter in 2 days time.

Needless to say it was a disaster!

I saw that same scenario on 2 seperate jobs from Oceanteam…amazing aint it.except that the trainees were the Oceanteam guys .result was the same .

[slayer]

I’m sorry for the hard working ROV guys involved but if you do your research and check who is behind this company, it’s a reason to be a bit concerned. Names like Seatools, DSND and Seateam pops up and where are these companies today?

[Rons_ROV_Links]

Names like Seatools, DSND and Seateam pops up and where are these companies today?

Seatools still exists. They recently made a new 15 ton ROV for a dutch dredging company and they made the EB ROV finally work. They’re quite busy, have plenty orders and are expanding.
Beside ROVs Seatools is also very active in tge dredging world.
Don’t confuse Seatools with Seatec.

DSND bought Seateam (which was based in Den Helder too like Bluestream…) and later DSND was split up into SIEM and Subsea 7.

[HelpMaBoab]

Hmmmm gents,
A lot of speculation and bells and whistles added on here.
For your info, The job you are talking about was brought forward by 3 weeks and the ROV arrived on the vessel direct from FAT’s in Kirbymoorside.
So, correct there were no tools or spares as they were at that time being ordered. The spares van was empty of course as it came straight from Vertec. Tools spares etc were immediatly ordered and hotshoted to the vessel when they came available, some bits of kit (fibre optic splicing kits) had 4 week + lead time as did PSSL spares.
Also for your information, the company who leased the equipment knew about the spares / tooling situation but still went ahead with the mobilisation.
As for the personnel situation, this job was crewed completly by customer supplied agency personnel (Oceanteam supplied 1 trainee at no cost).

When the system arrived back, let’s just say, the ROV was extensively damaged, If it was company personnel operating the ROV you would require a revolving door in the office. Never mind we know who you are.

Obviously a lot of lessons were learned because of this project and a subsequent one also by the same client, which incidently the ROV was delivered back requiring a complete ROV rebuild (after 1 contract).

As for Oceanteam Subsea, they have just mobilised 2 TXLS onto a newbuild vessel for a long term contract utilising Oceanteam personnel.
And possibly they are one of the few ROV companies to be employing experienced personnel.
Watch this space… 😀

[Keith Jones]

Just heard that oceanteam are now in administration. Do not apply for jobs with them

[Rons_ROV_Links]

See the news section.

It seems that mainly the UK subsidiaries are in problems.

Annual report 2008

Going concern
Without qualifying our opinion, we emphasize that there are significant uncertainties related to the Company’s ability to continue as a going concern. We refer to additional information in the financial statements and the Board of Directors’ report.

[Author]

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