MEO Extends Chevron Partnership & Leadership Team

By 1 October, 2014Announcements

New addition to MEO’s senior leadership team

Miclyn Express Offshore (MEO), a leading provider of Offshore Support Vessels and project transportation solutions to the offshore oil and gas industry, has appointed Mr Venkatraman Sheshashayee (“Shesh”) as Deputy CEO effective 1st October 2014.

Mr Sheshashayee brings strong industry experience to the role having recently led the Jaya Group through a business transformation. Prior to that, he held a senior management role at Greatship Global Offshore Services, part of The Greatship Group. Mr Sheshashayee joins MEO with proven management and leadership qualities, capital markets experience and a strong understanding of the technical aspects of the offshore vessel sector.

“MEO is a growing business, with an expanding fleet of new and more complex vessels servicing clients across a wider geographic area. As we look to build on this growth and take MEO to the next level Shesh’s unique technical skill-set and the deep regional experience he brings to the role will strengthen our offering and help us to build our business while continuing to service a strong pipeline of opportunities. We are delighted to welcome Shesh to our leadership team.” said Diederik de Boer, CEO MEO.

MEO awarded multi vessel AHTS contract by Chevron, increasing forward orderbook to US$750mn

Miclyn Express Offshore (MEO) is pleased to announce that it has been awarded three contracts, each for a duration of 4 years plus 3 x 1 year extension options, to provide Anchor Handling Tug Supply (AHTS) services to Chevron in the Gulf of Thailand through its joint venture Uniwise Offshore.

The contracted vessels include two 7145 BHP, 90TBP AHTS newbuilds that are being delivered from China in August and September 2014 respectively. The additional vessel is an extension of an existing 5400 BHP AHTS that has been operating for Chevron in the Gulf of Thailand since 2011.

CEO Diederik de Boer said, “MEO is delighted to further expand our relationship with Chevron, one of the largest international oil companies operating in Asia Pacific. Our relationship, which started with the provision of crewboat services, has steadily expanded to include contracts for larger vessel operations as well and today we have 36 units operating for Chevron in the Gulf of Thailand.

The recent award, particularly in the larger AHTS category, is a display of confidence in our ability as an operator of more complex vessels. We are proud of this award which is another success for our team who continue to consistently deliver a first-rate service, and demonstrate operational and safety excellence, to our blue-chip clientele across the region.”

This contract win is the latest in a run of success for MEO. The Company recently secured a number of long term extensions on key assets as well as multi vessel tender wins with Saudi Aramco and Brunei Shell Petroleum, the latter providing entry into a new market with a new customer. Off the back of this success, MEO has lifted its forward orderbook to approximately US$750mn, an all-time high for the company. This growth is expected to increase as the company continues to execute its growth strategy and seeks opportunities to invest in new assets backed by long term contracts with core customers.

Delivering Operational Excellence