This last year has been an exciting year for O.O.S. International. The company has not only signed a contract for the building of two new semi-submersible crane vessels (SSCVs), but after years of preparation, they have officially moved into their new offices in the picturesque village of Serooskerke in Zeeland. The Grand Opening of these new offices was the latest episode in a story that reads like an exciting boys’ book. A book that is far from finished, adding another great story to the success of Zeeland’s offshore industry.
Mr Overdulve, CEO at O.O.S. International
Leon Overdulve, CEO of O.O.S. International, started his company in 2009 after years of working in the offshore industry. In those early years he took a great risk and not many people in the oil business thought of him as a serious competitor. “It was a challenging time,” Mr Overdulve remembers, “I had to use my children’s savings, and not many in the industry thought I would survive.” After years of business development, however, things suddenly gained momentum when Petrobras granted the young company a four-year contract, with the possibility of an additional four years, to work offshore for them in the Campos and Santos basins. With this deal, the efforts of Mr Overdulve and his small staff finally began to pay off. Mr Overdulve: “Petrobras granted us a 970-million-dollar long-term contract for the maintenance of offshore platforms. This was great news of course, but first I had to find a way of financing the two ships we had found under construction in China that would fit the job. Finally, CIMC Capital was prepared to help finance the project. CIMC, the owner of the CIMC Raffles Yard, where the SSCVs were under construction, also took a 20% share in O.O.S. International, thus showing its trust in our concept. After this, things went quickly. The two vessels, named O.O.S. Gretha, after my late younger sister, and O.O.S. Promotheus, came into operation in 2014 and went to Brazil to work successfully for Petrobras. Meanwhile, our company grew to 200 people in 2016 of which around 50 persons work onshore.”
Potential in the Decommissioning Market
A small and young company that succeeded in competing with the big players in the market. Not surprisingly, the deal caught a lot of attention in the market, but the critics were silenced with the first successfully executed Petrobras projects. With the Brazil business going steady, the people at the office in Serooskerke started looking further ahead for new business. Mr Overdulve continues: “It is nice to be in business in South America and by the end of 2022 we will have done around 40 platforms. But we are convinced that there is work for us in Europe as well. Market research shows a lot of potential in the decommissioning market. Of course, currently the oil and gas operators are taking their time and trying to postpone decom projects by extending the lifespan of their platforms and fields, but in the end more and more decom projects will be put on the market.” With this conviction in mind, O.O.S. International decided to launch two new SSCVs. Both O.O.S. (70%) and a new partner, China Merchant Group (30%), are going to invest in the design and construction of the O.O.S. Walcheren and the OOS Serooskerke. The ships will be built at the yard of CMG’s subsidiary China Merchants Industry Holdings. With the newbuilds, the company will scale up its staff to 150 onshore and 500 offshore.
Compete With the Big Contenders
“It is true, pre-financing is big risk for both O.O.S. as well as for CMG, but we want to have the vessels ready when the market really gets going. In 2019, when the vessels will be operational, we hope to have concluded several contracts. The meetings we have already had with a number of operators give us enough confidence to sign the contract for the two vessels,” Mr Overdulve explains. Apart from decommissioning, the two SSCVs will also be fit to do lifting and maintenance work. They will each be equipped with two heavy lift Huisman cranes, giving the vessels a capacity of 4,400t each. Altogether, the ships will be able to compete with the big contenders like the Pioneering Spirit. “Sure the Pioneering Spirit is capable of lifting heavier loads – up to 40,000t. But most big platforms are of a modular kind and it will be very difficult to lift these platforms in one piece within expensive reinforcements. So, in our opinion, it will be cheaper and not slower, to do most of the decom jobs at sea, making use of our vessels,” Mr Overdulve explains.
Artist impression of the SSCV O.O.S. Serooskerke
Zeeland Roots
Another 2016 milestone was the Grand Opening of the new offices in Serooskerke. They are housed in a 19th century villa named Welgelegen. With the complete renovation and allied preservation of the villa, Mr Overdulve is showing his passion for his Zeeland roots. “When I was a kid growing up in foster homes, I very often spent my holidays at this foster home, Villa Welgelegen. Since then, the building has played various roles. A few years ago, we had the chance to prevent the villa from being demolished and we decided to completely renovate it in order to bring it back to its former glory,” Mr Overdulve says. “It took us some time, but now we are very proud of the result; reason for us to organise a big party. We never had the time to invite our friends and partners to celebrate, we also don’t like to show off, but this was a special occasion. Of course, O.O.S. has grown into an international firm with offices in Brazil, Mexico, Singapore and Africa and people working everywhere around the globe. That doesn’t mean that we should forget our origins. I will always be the down-to-earth offshore sailor. Wherever possible, we help our region, for instance by sponsoring local initiatives. But also for every new project we try to have Zeeland subcontractors involved, thus giving an extra impulse to the Zeeland economy. I am convinced that this loyalty, not only to our region but also to our suppliers, subcontractors and customers, will pay off for everyone,” Mr Overdulve concludes.
