Norwegian shipping company Siem Offshore has entered into a new contract with compatriot subsea services provider DeepOcean for the offshore subsea construction vessel (OSCV) Siem Spearfish.
Under the contract, Deepocean will employ the vessel to support its clients predominately in West Africa and Europe.
The subsea services provider plans to utilise the vessel in both offshore renewables and oil and gas sector undertaking projects within offshore construction and inspection, maintenance and repair (IMR).
In order to accelerate offshore renewables growth, DeepOcean recently acquired the Norwegian engineering and technology company Installit and its subsidiaries.
The contract with Siem Offshore will commence in direct continuation of Siem Spearfish’s current commitment, securing a firm utilisation until the end of 2023.
“The contract shows an increased appetite in the market to secure OSCVs for longer periods” , Siem Offshore said.
At the beginning of the month, the 2014-built 121-metre long vessel was hired for work in the UK sector under a contract with an undisclosed client.
Previously, Siem Spearfish was on contract with an undisclosed subsea construction company working on a project in the Gulf of Mexico .
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