The Shipowner Island Offshore Group

The Island Offshore Group is a leading provider of services to the offshore industry ranging from Platform Supply and Anchor Handling to Advanced Subsea Operations including Increased Oil Recovery (IOR) and Light Well Intervention (LWI). The fleet consists of high quality vessels with an average age of less than two years. 11 vessels are currently operating in Brazil, Mexico, USA and in the North Sea.
The Island Offshore Group comprises ship owning companies where Island Offshore Shipholding LP holds the majority shareholding. Technical and marine operations for all vessels are handled by Island Offshore Management AS in Ulsteinvik, whilst IOR and Subsea operations are handled by Island Offshore Subsea AS in Stavanger. Island Offshore is fully certified according to ISO standards 9001 and 14001.
Island Offshore has a distinct objective to maintain and operate its fleet at least in accordance with national and international laws and regulations, in particular with respect to Health, Safety and Environmental issues. All employees shall be highly qualified and perform with the highest working standards and professionalism in all areas.

The Ulstein family has a 30 years history as owners of advanced service vessels. Following the acquisition of “Havila Chieftain”, a 1984 built anchor handler type ME 303 in 1999, members of the Ulstein family founded Island Offshore in 2000. Island Offshore took delivery of its first new building, a UT 722 L from Aker Langsten in December 2000. The vessel went straight on to a 2-year charter party for Statoil, which were completed in January 2003 and has since been on hire to Petrobras. Subsequently, the Ulstein family has expanded their ownership interests through strategic partnerships with industry leaders.

In January 2004, Island Offshore Management AS, which is majority owned by Island Offshore Shipholding LP, was established in order to manage fleet operations. Island Offshore Management AS has developed management systems in compliance with the guidelines from Det Norske Veritas and is certified by the Norwegian Maritime Directorate according to the ISM-code.

Island Offshore Shipholding LP is jointly owned with Edison Chouest Offshore, the leading operator in United States for advanced and high quality service vessels. ECO owns and operates a fleet of approximately 150 offshore vessels worldwide with the majority in the U.S, Mexico, Brazil and West Africa.

In August 2005, Island Offshore Subsea was established. The company is jointly owned by Island Offshore Management AS and leading employees, and specializes in developing and implementing customized engineering solutions for Light Well Intervention and other sub sea well operations.

In 2006 a joint venture with Edison Chouest Offshore in Brazil was established and there are three vessels under construction.

In 2007 Island Offshore became leading shareholder in MARACC ASA and signed management agreement for supervision and operation a semi-submersible  GM 4000 rig under construction in China.

There is no doubt that the Owners believe strongly in this sector of the offshore market. In July they contracted another ship of Rolls-Royce UT 767 CDL design at Aker Yards, probably to be built at Langsten. The contract price is about NOK 1.2 billion, and the delivery is planned for third quarter 2011. After delivery of this vessel Island Offshore will have four RWLI in operation, and strengthen their position as a pioneers and market leaders in this segment.