The oil and gas sector outlook remains healthy and oil majors in Mexico, Africa, Asia and Brazil, are venturing further into the deep and ultra-deep waters. Deep water expenditure is expected to increase by 130%, compared to the preceding five-year period, totalling $260 billion (bn) from 2014 to 2018. We believe that this will spur the demand for these high tech and high spec vessels.
Ultra Deep Solutions (UDS) has signed a Letter of Intent to build 2 Diving Support Construction Vessels (DSCV) with one of the biggest shipyards in China. This marks an important milestone in the company's future plans. The “RED CLASS” DSCV is one of the biggest and most advanced DP3 Diving Support Construction Vessels that will enter the market in Q4 2016.