Offshore marine group Otto Marine says wholly-owned subsidiary Surf Subsea has taken a 19.2% stake in the US-based joint-venture company, Surf Subsea Inc. which has acquired DMT Emerald, a 292-feet Class 2 DP MSV, for US$55 million ($76.5 million).

The vessel will enable the group to enter the US market for sub-sea and offshore construction works in addition to its current seismic activities, hence creating more growth opportunities for its new business arm: Specialised Offshore Service.

The US-registered vessel DMT Emerald, is equipped with a 100-tonne knuckle boom crane, a 100-tonne heave compensated, multi-purpose lifting tower and a 23 ft x 27 ft moonpool. Furthermore, this vessel can comfortably accommodate 73 people and is outfitted with 2x 150 Hp, 10,000 ft depth rated Triton XLS work class ROVs and a Sikorsky 76-rated helideck.

These fittings enable DMT Emerald to carry out field development works, flying lead installation, umbilical installation and various light to medium subsea construction tasks.

Otto Marine says the vessel will be operated by the group’s new joint venture partner, Surf. The group has entered into a 20-year time charter with Surf for the exclusive use of the vessel DMT Emerald and provided a shareholders’ loan of US$24 million and corporate guarantee to finance the procurement of the vessel.