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REMORA ASA

Norway

Address: Kongsgata 10 4005 Stavanger NORWAY

Tel: +47 51 85 80 20

Web: www.remoratech.com

Company description

Remora ASA is an oil service company, focusing on providing the international market with innovative solutions for offshore loading of oil. The company was incorporated in 2002 and has its registered head office in Stavanger, Norway, with a branch office in Houston, United States of America, and subsidiaries in Cyprus and Lagos, Nigeria. Remora’s business model is built on the same principles as those of a ship-owner, focusing on building, owning, leasing and operating HiLoad units. Remora has a highly competent staff and is built on the Hitec group’s more than 20 years of competence with traditional offshore loading systems. The range of HiLoad applications spans from offshore loading of crude oil, turret mooring of FSOs and FPSOs, as well as a mobile propulsion or Dynamic Positioning (DP) system for seagoing vessels such as barges and floating rigs. The HiLoad concept is an innovative utilization of basic laws of nature. The ballasting system combined with a large square area of friction rubber enable the HiLoad units to replace the water pressure on the tanker hull with no mechanical connection - resulting in a friction force 20 times larger than needed to keep a tanker vessel in position in rough sea states. Furthermore, its generic feature utilizes the common design criteria for all tanker vessels of the world: flat bottom and straight sides. This creates a unique flexibility for the standardized HiLoad units: they can operate in any water depth, with any tanker of opportunity and on any oil field or terminal with no modifications required - combined with a diversified commercial model that includes attractive time charter (TC), bareboat (BB) lease, and sale or buy-back arrangements.

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