Otto Marine, an offshore chartering group, has announced that its subsidiary GO Offshore, has been awarded a chartering contract worth up to AUD94.8 million ($68.5M).
The vessel under the charter will be a 100-tonne Bollard Pull offshore support vessel (OSV), for FPSO infield support in the gas field of 40-year life in Australia.
The client is an international oil and gas exploration and production company. The chartering contract is confirmed for 5 years from May 2017 with the option of an additional 5-year extension.
The contract value for the confirmed period of 5 years is AUD47.4 million ($34.24M) and with the option, the total contract value is AUD94.8 million.
Commenting on the contract win, Michael See , Group CEO said, “ We are delighted to have secured this chartering contract. The client is a world renowned E&P company and we are pleased to establish a working relationship with them.”