SINGAPORE – Mooreast Holdings Ltd. said that it has partnered with Norway-based GeoProvider AS (“GeoProvider”) to strengthen capabilities in offshore data analysis and enhance its value proposition to the floating offshore renewable energy market.
Through their Framework Agreement, Mooreast will tap into GeoProvider’s extensive geotechnical and geophysical database to accelerate data analysis and support larger, more complicated projects. Both parties will also collaborate on offshore wind projects as the floating renewable market transitions towards the commercialisation phase.
SGX Catalist-listed Mooreast, a total mooring solutions specialist, has been offering geotechnical and geophysical studies, such as soil data analysis to determine project feasibility and engineering design for mooring configurations. The Group is also Asia’s only ultra-high power anchor manufacturer.
Headquartered in Stavanger, Norway, GeoProvider provides geophysical data and geotechnical services for global clients involved in offshore wind, energy exploration and carbon capture and storage. Its team of world-class specialists and cutting-edge technology offers consultancy, advisory, and engineering for subsurface projects.
Mr Eirik Ellingsen, CEO of Mooreast, said, “The agreement with GeoProvider reflects our strategy to build strong partnerships that add value to our clients and increase our capability to take on larger and more complex projects. GeoProvider’s strong track record complements our core competencies as a mooring specialist, allowing us to better meet the demands of the global offshore market.”
In line with these efforts, Mooreast also signed a Memorandum of Understanding (“MoU”) with Korea Ocean Engineering & Consultants Co., Ltd. (“KOCECO”) to promote joint business and technology collaboration in offshore mooring and seabed anchoring solutions.
KOCECO, recognised by South Korea’s Ministry of Trade, Industry and Energy, brings extensive experience in submarine cable laying and underwater engineering services. The MoU lays the groundwork for future cooperation in the rapidly developing floating offshore wind market in North Asia, where Mooreast seeks to play a pivotal role in addressing local supply chain gaps in mooring systems.
“The two agreements will significantly strengthen Mooreast’s global position and our commitment to our transformation to serve the renewable energy sector. Through these partnerships, we are now better equipped to deliver a comprehensive solution for the offshore sector,” added Mr Ellingsen.
This press release has been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited (the “Sponsor”). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 83 Clemenceau Avenue, #10- 01 UE Square, Singapore 239920, telephone (65) 6590 6881.
Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.
