What Telford Offshore does

Telford Offshore is an international offshore service provider to the oil and gas industry, operating a fleet of six DP3 (Dynamic Positioning Class 3) Multi-Purpose Support Vessels (MPSVs) that the company's CEO describes as the largest such fleet globally. The company combines high-capacity accommodation (up to 684 persons per vessel), heavy-lift cranes (up to 800 tonnes), rigid and flexible pipelay capability (4" to 48" diameter pipe), subsea construction, SURF installation, IRM (Inspection, Repair and Maintenance), and decommissioning services on single platforms. Its proprietary features include Kongsberg K-POS 22/12 DP3 systems with follow-target mode and active heave-compensated hydraulic telescopic gangways, delivering gangway connectivity rates in excess of 95% even in adverse weather. The fleet comprises five owned vessels (Telford 25, 28, 30, 31, 34) and one long-term bareboat chartered vessel (Telford 33, added January 2025).

The company's revenue model is built primarily on multi-year DP3 vessel time charter contracts with Tier 1 EPCI (Engineering, Procurement, Construction, Installation) contractors and super-major and NOC oil and gas operators across the Middle East (UAE, Qatar), West Africa (Angola, Nigeria), Norway, India, Southeast Asia, and Latin America. Revenue is supplemented by project-based offshore construction, pipelay, IRM, and decommissioning services bundled with the same vessels. Go-to-market is enterprise-direct through regional offices in Dubai (HQ), Doha, Luanda, and Oslo, targeting majors, internationals, NOCs, and small independents via tendering and direct negotiation. Recent contract awards and extensions combined exceed USD 100 million, adding more than 800 vessel days to backlog.

Telford Offshore is a privately held company registered in the Cayman Islands as Telford Offshore Holdings Ltd, with operational headquarters in Dubai, UAE. Since February 2023, it has been wholly owned by entities affiliated with Merced Capital, a Minneapolis-based private investment firm that has been the primary financial sponsor since the company's inception and provided new capital that reduced net debt to zero post-acquisition. Management is led by CEO Robert Duncan (ex-Seafox International CCO/CEO/CFO), COO Mark Harvey (35 years marine/offshore), CCO Ben Isles (16+ years from Sea Trucks Group), and CFO Olav Andreas Sissener (formerly MD of DNB Carnegie's offshore investment banking practice), with an integrated management system certified to ISO 9001, 14001, 45001, and ABS MHSQE standards.

Name

Telford Offshore

Legal name

Telford Offshore Holdings Ltd

Website

https://telfordoffshore.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

251–500 employees

Short description

Telford Offshore is a Dubai-headquartered, Cayman-registered offshore services company operating the world's largest fleet of DP3 multipurpose support vessels (MPSVs) for oil and gas operators and Tier 1 EPCI contractors, delivering integrated accommodation, heavy-lift, pipelay, construction, IRM, and decommissioning services across MENA, West Africa, and other offshore regions.

Ownership category

akta.pro rank

Product category

Offshore Support Services (DP3 Vessel Operations)

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839)

SIC

Water Transportation (4400), Services-Miscellaneous Equipment Rental & Leasing (7350)

akta.pro primary industry

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

akta.pro secondary industries

Pipe-lay & Heavy-lift Offshore Vessel Construction (IMAJACAE), FPSO/FSO Hull Construction & Conversion (IMAJACAC), Retrofits & Modernization (Scrubbers, Ballast Water, Alternative Fuels, Energy-Saving Devices) (IMAJAFAH)

Keywords

• Offshore support vessels
• Offshore construction services
• Offshore accommodation services
• Subsea pipelay services
• Offshore decommissioning services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. DP3 Vessel Time Charters: Time charter contracts for DP3 multipurpose support vessels providing accommodation support vessel (ASV) services to oil and gas operators. Contracts secured with Tier 1 EPCI companies and Super Major clients in Middle East and Africa regions. Recent awards include contracts exceeding USD 100 million combined value, adding over 800 additional vessel days to backlog.
2. Offshore Construction and Pipelay Services: Rigid and flexible pipeline installation, subsea construction, SURF (Subsea Umbilicals, Risers, Flowlines) capabilities, and EPIC project delivery for pipeline installation and subsea structures
3. IRM Services: Inspection, Repair and Maintenance services for brownfield offshore sites including emergency offshore or subsea repairs and installation of new facilities
4. Decommissioning Services: Offshore decommissioning tasks including platform/facility removal, equipment removal, hazard removal, wreck removal, and site restoration

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Telford Offshore operates a fleet of six DP3 (Dynamic Positioning Class 3) multipurpose support vessels providing offshore construction, accommodation, heavy lifting, pipelay, inspection/repair/maintenance (IRM), and decommissioning services to the oil and gas industry. The company's hybrid design philosophy enables multiple services — high-capacity accommodation, heavy lifting up to 800 tonnes, rigid and flexible pipelay, and construction — from a single DP3 vessel under long-term time charter and project-based contracts.

Product overview

Telford Offshore operates as an international offshore service provider offering cost-effective construction and project management solutions to the oil & gas industry through a fleet of six DP3 multipurpose support vessels. The fleet consists of owned vessels (Telford 25, Telford 28, Telford 30, Telford 31, Telford 34) and one long-term bareboat charter vessel (Telford 33). These vessels combine high-capacity accommodation, lifting, pipelay, construction, hook-up, and decommissioning capabilities from single platforms. The company's services are organized around its DP3 vessel capabilities: DP3 Accommodation Services, Construction & DP3 Accommodation, Lifting & DP3 Accommodation, IRM & DP3 Accommodation, Pipelay & DP3 Accommodation, and Decommissioning & DP3 Accommodation. The company serves operators in West Africa, Latin America, Middle East, India, and South East Asia regions.

Differentiator

Problem solved

Functional benefit

Products and services

• DP3 Accommodation Services Offshore accommodation support service providing safe gangway connectivity to FPSO and fixed production platforms with connectivity rates exceeding 95%, accommodation for up to 470 people, and 24/7 operational support for oil and gas operators and EPCI contractors.
• Construction & DP3 Accommodation Combined offshore construction and accommodation service including facilities installation, rigid and flexible pipelay, subsea construction, IRM, and decommissioning activities delivered from a single DP3 multipurpose vessel.
• Lifting & DP3 Accommodation Heavy lift offshore service using DP3 vessels equipped with up to 1,500m² of unobstructed deck area and cranes capable of lifting up to 800 tonnes, combined with high-capacity accommodation for platform installation, construction, and decommissioning.
• IRM & DP3 Accommodation Inspection, Repair and Maintenance (IRM) support service for brownfield offshore sites including emergency offshore and subsea repairs and installation of new facilities, delivered with 24/7 connectivity to platforms from DP3 vessels.
• Pipelay & DP3 Accommodation Pipeline installation and SURF (Subsea Umbilicals, Risers, Flowlines) service including rigid pipeline installation of 4" to 48" diameter pipes (up to 60" OD with coating), flexible pipe installation, and subsea umbilicals, risers, and flowlines delivered from DP3 MPSVs.
• Decommissioning & DP3 Accommodation Offshore decommissioning service covering platform and facility removal, equipment removal, hazard material removal, wreck removal, and site restoration using DP3 multipurpose vessel capabilities for oil and gas operators.
• Telford 25 (DP3 MPSV Time Charter) DP3 multipurpose support vessel (MPSV) available for time charter, featuring 800-tonne crane capacity, rigid and flexible pipelay capability, accommodation for up to 355 people, large unobstructed deck, and active heave-compensated gangway.
• Telford 28 (DP3 MPSV Time Charter) DP3 accommodation and hook-up vessel equipped with heave-compensated gangway, 270-tonne crane, and DP3 dynamic positioning, offering accommodation for up to 464 people in fully air-conditioned cabins with individual bathroom facilities.
• Telford 30 (DP3 MPSV Time Charter) DP3 multipurpose vessel for pipelay, construction, accommodation, and hook-up operations, featuring large unobstructed main deck, 270-tonne crane, and large-scale accommodation capacity suitable for offshore construction activities.
• Telford 31 (DP3 MPSV Time Charter) DP3 multipurpose vessel suitable for both shallow and deepwater operations, combining strong offshore construction capability with accommodation for up to 469 people, 1,300m² of unobstructed deck space, and a 400-tonne active heave-compensated deepwater crane.
• Telford 34 (DP3 MPSV Time Charter) DP3 multipurpose vessel combining advanced pipelay capability with accommodation for up to 335 people, equipped with an 800-tonne crane, hydraulic heave-compensated telescopic gangway, S-lay pipelay equipment for 4" to 48" diameter pipe, and a 55m stinger.
• Telford 33 (DP3 MPSV Time Charter) DP3 multipurpose vessel built with hybrid design philosophy, providing accommodation for 684 persons, 2,000m² of deck space, 300-tonne crane, Kongsberg DP3 K-POS 22/12 system with follow target mode, and active heave-compensated hydraulic telescopic gangway. Added to fleet via long-term bareboat charter.

Quantifiable outcome

• Connectivity rates in excess of 95% with all drilling and production facilities
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Subsea 7: Global integrated subsea contractor owning a large fleet of pipelay, heavy lift, and construction vessels. Overlaps with Telford in SURF and offshore construction but operates as a full-service EPCI rather than a pure vessel owner.
• Saipem: Italian integrated oilfield services and offshore construction major operating its own pipelay, drilling, and construction vessel fleet. Competes with Telford for offshore EPCI and SURF scopes from a much larger installed base.
• McDermott International: US-based integrated offshore engineering, procurement, construction, and installation contractor with owned heavy-lift and pipelay vessels. Overlaps with Telford in MENA offshore construction and pipelay work as a much larger incumbent.

Direct peers

• DOF Subsea: Norwegian operator of subsea construction, SURF, and offshore support vessels globally. Directly comparable in providing pipelay, IRM, and accommodation vessel services to oil and gas operators, particularly in deepwater markets.
• Bourbon Corporation: French offshore vessel operator providing marine logistics, subsea, and SURF services worldwide. Comparable as a large-scale OSV owner serving oil and gas operators with a fleet of support and construction vessels.
• Solstad Offshore: Norwegian owner/operator of offshore support vessels including AHTS, PSV, and subsea construction vessels. Comparable in vessel-based offshore service delivery to oil and gas majors across global regions.
• Vroon Offshore: Dutch offshore vessel operator with PSV, AHTS, and subsea support vessels serving global oil and gas markets. Comparable in providing offshore support and accommodation services, particularly in Northwest Europe and emerging markets.
• Gulf Marine Services: UAE-based provider of self-elevating and multi-purpose support vessels serving the offshore oil and gas industry in the Middle East. Direct overlap with Telford in DP3-class accommodation and construction vessels targeting the same MENA client base.
• Siem Offshore: Norwegian-based operator of offshore support vessels including subsea construction, anchor handling, and accommodation vessels. Directly comparable service portfolio and customer base (majors and EPCIs) to Telford.
• Edison Chouest Offshore: Privately held US-based offshore support vessel operator with one of the largest OSV fleets globally. Comparable in providing multi-purpose offshore vessels to oil and gas operators across West Africa, Gulf of Mexico, and other key basins.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/TelfordOffshore
• LinkedInlinkedin.com/company/about

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Telford Offshore