UK-based Siem Offshore and Siem Group subsidiary Subsea 7 have jointly awarded a service agreement to Rolls-Royce for the maintenance of 74 offshore vessels.

The three-year service contract will see Rolls-Royce maintain and service all the equipment it has delivered to the two companies’ offshore vessels.

The agreement also represents the first deal where both Siem Offshore and Subsea 7 have selected the same service provider.

Siem Group procurement head Steinar Sandberg said: “Naturally, we believe we can save money by jointly entering into this kind of service agreement.

“We have a modern and technically advanced fleet that requires good follow-up throughout the vessels’ working lives.”

Rolls-Royce also noted that the aftermarket services currently account for around 40% of its Rolls-Royce Marine division’s revenues.

The company is also exploring various digital opportunities in order to provide shipowners with new and more effective service solutions, including services based on the surveillance of ships’ operations and equipment from on-shore control centres.

Rolls-Royce Marine Services director Knut Hovland said: “We have delivered equipment to around a quarter of the world’s registered fleet.

"The three-year service contract will see Rolls-Royce maintain and service all the equipment it has delivered to the two companies’ offshore vessels."

“As a result, we also have service assignments and long-term agreements with a large number of shipowners globally.

“We also have a network of service stations at 34 locations worldwide, so we can be close by whenever equipment needs servicing or repair.”

Rolls-Royce previously signed a ‘Power-by-the-Hour’ service agreement with Norwegian logistics and cargo company Nor Linesfor two vessels, Kvitbjørn and Kvitnos, in May.

The new service utilises ‘big data’ to monitor, plan and perform maintenance and repairs for all Rolls-Royce equipment currently installed on the two vessels.

Image: An offshore vessel at sea. Photo: courtesy of Subsea 7 / Rolls-Royce plc.