Pacific Radiance JV to tap Aussie oil & gas industry

PACIFIC Radiance is strengthening its foothold in the Australian oil and gas sector through a new joint venture (JV).

The offshore & marine company yesterday said that its wholly owned subsidiary, Crest Offshore Marine, has entered into a joint venture agreement with Westsea Marine (S). The latter is part of the Australia- based Westsea Marine group of companies. The group has operations in Perth, and are providers of maritime services, vessel owners and operators of a fleet of offshore support vessels including anchor handling tugs, platform supply vessels, utility tugs, multi-cats, crew transfer vessels and barges.

The joint venture company, to be named Westsea Radiance, plans to engage in ship ownership and other offshore marine related services. It intends to acquire two deepwater platform supply vessels to position itself for access to the offshore oil and gas industry in Australia.