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Cosalt Offshore Secures Dolphin Drilling Lifeboat Contract

Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, is to provide Dolphin Drilling with its first lifeboats designed to meet new HSE guidelines allowing for offshore workers being larger-sized than in the past.

Previously, the industry worked to 75kg per person but the new guidelines suggest bringing lifeboats in line with Civil Aviation Authority (CAA) guidance for helicopter flights offshore of 98kg per person.

Cosalt Offshore was commissioned to carry out a study into how the "Big Persons in Lifeboats'' guidance from the HSE would impact on existing lifeboats and found a solution involving new, lighter vessels with additional internal space.

The six-figure deal involves Cosalt Offshore supplying and installing four lifeboats (two to hold 60 people and two to take 50 people) for the Borgsten Dolphin rig in the North Sea.

Cosalt Offshore Chairman Calum Melville said: "This is the first contract of its kind that we have won and we faced extensive competition for it. The quality of our products and the legislative support service we offer secured the work for us, along with our solid technical ability and experienced engineers on the ground in key locations for the North Sea.

"Dolphin Drilling is an important client for us and we hope winning this initial contract will lead to future orders and, in turn, to us taking on more people. There is great potential for additional business as operators address the new guidelines from the HSE. As well as supplying the lifeboats, we are to handle the commissioning, testing and installation work. As an added benefit, the new lifeboats utilise their existing davit systems and so are more cost-effective.''

Cosalt Offshore has 300 personnel based in Aberdeen and a further 110 at its operations in Stavanger and Lowestoft, with plans to take on an additional 50 people over the next year. The company's turnover to October 2008 was £60million.

The company recently secured a three-year deal with BP, with options to extend for a further two years, to provide all lifting equipment to it and all its subcontractors on all its North Sea assets.

Cosalt Offshore also won an exclusive distribution deal with Bridon for wire ropes in the UK, which has already delivered a significant increase in business. Cosalt Offshore estimates that the Bridon agreement will generate at least £30million and potentially up to £50million over the three-and-a-half year term of the agreement.

The company has an established reputation for delivering the highest standards of service and a team of 40 multi-skilled engineers in a pan-North Sea network are dedicated to serving the needs of its clients.

-Ends-

About Cosalt Offshore
Cosalt Offshore, a division of Cosalt plc, was formed specifically to meet the exacting standards of the oil and gas operators and service companies.

Cosalt Offshore specialises in the management of client equipment and services. The portfolio of services includes supply, hire, examination and repair of lifting equipment, tooling and consumables, supply and servicing of lifejackets, liferafts, immersion suits and lifeboats and offshore examination and test services.

Cosalt acquired gtc group limited in 2007 and Myhre Maritime in 2008 as part of its strategy to set up a unique and market-leading pan-North Sea network of lifting and tooling facilities focused on client needs and has the proven ability to deliver the highest level of service.

Issued on behalf of Cosalt Offshore by ThinkPR. For further information contact Fiona McWhirr at ThinkPR on +44 (0) 1224 623967 or +44 (0)7827 278725 or email fiona@thinkpr.co.uk

Fiona McWhirr
Account Director
ThinkPR(Scotland) Ltd
13 Rubislaw Terrace
Aberdeen
AB10 1XE
T: (00) 44 1224 623967
M: (00) 44 7827 278725
E: fiona@thinkpr.co.uk
Skype: fionamcwhirr

© Press Release 2009

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