Tidewater signs strategic partnership with Tero Marine for a fleetwide vessel maintenance transformation

PRESS RELEASE

Tidewater, a leading provider of Offshore Service Vessels (OSVs) to the global energy industry, has initiated a transformation project to optimize the lifecycle of its assets through the implementation of a harmonized Fleet Management System (FMS) across its entire fleet.

Tero Marine has been selected as a trusted and reliable partner that can be instrumental in driving change management and implementation of best practices.

Lee Johnson, Senior Vice President and Chief Information Officer explained: “Tero Marine is an excellent partner for Tidewater and has outperformed in past TM Master conversion projects. Tero Marine has an expert team with   extensive experience in delivering quality data conversions with the highest level of data integrity and efficiency.”

Tidewater also expects the new direction to yield significant financial gains, with change management seen as critical to unlocking considerable potential for return on investment. Executive Vice President and Chief Financial Officer Sam R Rubio elaborates:

“The financial drivers for these savings are based on achieving industry best in class practices. Savings will only be achieved by optimizing processes and securing acceptance across the fleet. TM Master software is an enabler, but it is our crews and onshore resources that will make this a successful transition. Change management is a critical success factor for any transformation.”

“We are delighted to enter into this partnership with Tidewater and are deeply proud of the confidence they have shown in our team and our ability to play an important part in delivering the organisational change they envisage,” said Rune Lyngaas Chief Executive Officer, Tero Marine.

“It is highly motivating for us to work with such a forward-looking customer that recognises that fleet management systems are not only a tool for compliance but a means to transform the way we do business, finding greater efficiencies and enabling informed strategic decisions. Tidewater has the courage to question the way they do things and adopting the TM Master suite will empower their organisation with the tool and information to realise broader transformational change,” he added.

About Tidewater

Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with over 65 years of experience supporting offshore energy exploration and production activities worldwide. To learn more, visit www.tdw.com.