November 25, 2015
C&I Leasing plc signs agreement with Floatel Reliance to market semi-submersible accommodation and construction support vessels
C&I Leasing plc signs agreement with Floatel Reliance to market semi-submersible accommodation and construction support vessels

Lagos, Nigeria; November 25, 2015 – C&I Leasing plc., a leading Nigerian content player in the offshore marine vessel space, has just announced a strategic partnership with Floatel International, the owners and operators of some of the world’s most modern, safe and technically advanced fleet of semi-submersible accommodation and construction support vessels (Floatel).

Mr. Emeka Ndu, Group Managing Director, C&I leasing plc, while speaking at the MOU signing ceremony held in Lagos recently, disclosed that with the new partnership, C&I Leasing now holds the exclusive rights to market Floatel services and their vessels in Nigeria for a renewable period of one year.

“We are particularly excited at the prospects of this emerging sector. This partnership represents another significant milestone in the efforts of the organization to compete even more aggressively in the offshore marine sector, and to continually create value for investors.” He said.

Mr. Peter Jacobsson, CEO Floatel International, on his part informed that the company which was established in 2006, is focused at satisfying the market’s demand for a new generation of offshore floatels that are cost efficient in operations, and meet the increased market and regulatory demands.

“Each of our vessels were carefully designed to provide the most modern accommodation facilities, outfitted with ample recreation and common areas providing maximum comfort for its guests.” He said.

Commenting on the partnership with C&I Leasing, Mr. Jacobsson disclosed that the Memorandum of understanding was signed in respect of Floatel Reliance – a DP2 semi-submersible accommodation and construction support vessel designed for cost effective operations worldwide, excluding the North Sea. She is built in accordance with ABS class, has a total accommodation capacity for 500 persons, and is designed for cost effective operations on deep water, in moderate harsh environments.

The vessel also has among other features, a 40 office work stations for Client exclusive use, workshop and warehouse facilities for construction support, and a heavy lift crane – 120 tonnes with a reach to transfer goods and material to the adjacent installation, auxiliary crane 25 tonnes, and a main deck work-area of approx 1 300 m². The vessel also comes with a fully redundant DP 2 positioning systems for operations in unlimited water depth.

It is worth mentioning that C&I Leasing recently expanded its operations into the leasing of oilfield support vessels, to the oil and gas industry, and has within the last 4 years demonstrated remarkable achievements by owning / managing a fleet of 18 vessels. In addition, the company has just been awarded contracts for another 6 vessels that are expected to start work before January 2016.

About C&I Leasing Plc

C & I leasing Plc, listed on the Nigerian Stock Exchange, is the foremost brand for leases and other ancillary services in Nigeria. With staff strength of over 4,000 people and operational offices in key locations in Nigeria and Ghana, the company takes pride in its track record of exceptional and qualitative service delivery.

Today, the C & I leasing Plc brand presence can be felt in major sectors in the Nigerian economy, providing specialized services, in Marine, Telecommunications, Oil and Gas, Equipment Rentals, Manpower Outsourcing and Transportation.

About Floatel International

Floatel International Ltd was established in late 2006. The vision of the Company is to own and operate the most modern, safe and reliable floatel fleet in the world in order to meet the increased market demand for a new generation offshore floatels. The Company was formed by the old management of Consafe Offshore AB, Sweden together with offshore investors.

###

Media Contact:

Samuel Iboroma

C&I Leasing Plc

08172007220

Samuel.iboroma@c-ileasing.com