Dana Medway Project
Seabed preparation for flowline installation and burial Boskalis achieved a record revenue of Euro 2.8 billion in 2011 (2010: Euro 2.7 billion). Net profit declined to Euro 254 million (2010: Euro 311 million), though it should be noted that the 2010 result included exceptional pre-tax gains of Euro 33.6 million. Due to the increased uncertainties in the international markets there is continued hesitance amongst clients with regard to investment decisions, and this is putting pressure on both margins and equipment utilization levels. Peter Berdowski, CEO Boskalis: “We look back on a turbulent year, with continued pressure on margins and volume. To keep the vessels utilized requires more effort and tendering for new projects has become more competitive. Market conditions are expected to remain challenging in 2012. The medium term presents a mixed picture for the markets in which we operate. On the one hand we see - especially in Europe - continued reservations about investing on the part of governments. On the other hand we are positive with regard to the market developments in South America, West Africa and Australasia.”
Berdowski feels particularly positive about the offshore market, where he expects a great deal of work as from 2013. Reason for Offshore Holland to drive to Boskalis Offshore in Papendrecht, the Netherlands, for an interview. We talked with proposal engineer Boudewijn Baan and gazed back at the challenging Dana Medway Project in the summer of 2011. This project in the Southern North Sea was carried out with great success. Baan: “The subsea tieback routes of the Medway Field Development had to cross a mobile seabed with large sand waves and numerous megaripples. To allow the pipelines to be laid, without excessive free spanning, two lay corridors had to be pre-swept using a Trailing Suction Hopper Dredger (TSHD).”
Published on Apr 16, 2012
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