Farstad Lands Zohr Job
Monday 21 November 2016
Oslo-listed player secures new charter deals with majors, including Shell and Petrobras
Oslo-listed player Farstad Shipping has secured a new charter with Italy’s Saipem for work on Eni’s giant Zohr field off Egypt.
Farstad said on Monday that, along with two other deals off Brazil with Petrobras and Shell, respectively, it landed work for two of its vessels in Egypt.
The Norwegian company will contract its platform supply vessel (PSV) Far Service and the PSV Far Supporter to support Saipem’s activities on the Zohr development.
The charter, with an undisclosed value, is for six months with an option to extend for another 30 days. It will begin next month.
Meanwhile, Petrobras extended the contract for the multi-purpose supply vessel Far Swift with another year in direct continuation with present contract, until October 2017.
“The vessel will continue to deliver air diving and ROV services in cooperation with Fugro Brasil, on the Brazilian continental shelf,” Farstad said.
Supermajor Shell also awarded Farstad’s PSV Far Star unit a two-year contract for the support of their production activities off Brazil.
“Commencement will take place by the end of 2016, and Shell has the option to extend the contract with additional two years,” Farstad said.
The commercial terms of the agreements were not disclosed.