What's Happening?
DeepOcean, an ocean services provider, and Jana Marine Services, a Saudi Arabia-based company, have signed an agreement to establish a joint venture named JADE Subsea Services. This partnership aims to offer integrated subsea solutions to the offshore
energy industry in the Middle East. The joint venture will leverage DeepOcean's expertise in subsea engineering and project management, while Jana Marine will contribute a newbuild DP2 hybrid diving support vessel (DSV) and its extensive local knowledge. The vessel, named Jana 201, is currently under construction in China and is expected to be delivered in the third quarter of 2026. It will feature advanced diving and ROV capabilities, a 100-tonne crane, and accommodation for up to 120 personnel.
Why It's Important?
The formation of JADE Subsea Services is significant as it enhances the capabilities of the offshore oil and gas industry in the Middle East by providing a fully integrated subsea services solution. This joint venture aligns with Saudi Arabia's localization program, potentially boosting local employment and expertise in the region. The collaboration between DeepOcean and Jana Marine is expected to offer competitive services, leveraging DeepOcean's global reputation in subsea competence and Jana Marine's strong local presence. This development could lead to increased efficiency and innovation in subsea operations, benefiting the regional energy sector.
What's Next?
JADE Subsea Services plans to enter a five-year charter agreement with Jana Marine for the newbuild vessel, with options to extend. The vessel is designed to meet the specifications of oil majors in the Arabian Gulf, ensuring readiness for regional client requirements. As the vessel is scheduled for delivery in 2026, the joint venture will likely focus on preparing for its operational launch and securing contracts with major oil and gas companies in the region. The partnership may also explore further opportunities to expand its fleet and service offerings in the Middle East.
Beyond the Headlines
This joint venture highlights the growing importance of hybrid-powered vessels in the subsea industry, reflecting a shift towards more sustainable and efficient operations. The use of hybrid power systems in the Jana 201 vessel could set a precedent for future developments in the region, promoting environmental responsibility in offshore operations. Additionally, the collaboration between an international company and a local firm underscores the strategic importance of partnerships in accessing new markets and enhancing service capabilities.
