Company » History of Allseas » 1985 - 1989

1985 - 1989

  • “Subsea Engineering” established in January 1985; later changed to “Allseas Engineering”
  • Opens offices in The Hague, the Netherlands, in January 1985, and Châtel Saint-Denis, Switzerland, in May 1985; operations begin with 15 office employees
  • Develops the concept of pipelaying on dynamic positioning (DP), leading to the design of the first world's first DP pipelay vessel
  • Allseas purchases the "Natalie Bolten" in July 1985 and work starts on the conversion to Lorelay  at Boele Shipyard, Bolnes
  • Engineering and construction of the subsea trencher Digging Donald  also gets under way in July 1985
  • Lorelay  is christened in Rotterdam in April 1986 and shortly after she successfully executes the company's first and second pipelay contract in the North Sea for Unocal

  • Oil prices collapse dramatically to $9 - $13 per barrel in the spring of 1986 prompting many companies to cancel or postpone offshore development plans
  • The company's strong growth continues; by 1987 The Hague office employs 55 people
  • Low oil prices continue to drive down the price level of contracts but by the end of 1988 Allseas secures a 25% market share in the North Sea specialising in small-to-medium diameter pipelines
  • The company cements its growing reputation as an industry innovator with the launch of the Pioneering Spirit  design concept, based on two rigidly connected super tankers
  • Work starts on the conceptual design of a much larger pipelay vessel, later to be called Solitaire
  • In 1989 Allseas buys the roll-on-roll-off vessel "Condock II" for conversion into the trenching support vessel Trenchsetter, operating Digging Donald 
  • The company also purchases the 261 m long bulk carrier "Trentwood" for conversion into a new pipelay vessel, but is forced to sell her six months later
  • Work begins on the Mossgas project, offshore Mossel Bay, South Africa, the company's first contract outside the North Sea
  • By 1989, Allseas employs 125 in The Hague office, and is profitable for the first time