Daya and Technip Enter Charter Deal for Offshore Subsea Construction Vessel

The Board of Directors of Daya Materials Berhad (“DMB”) announced that its subsubsidiary, Daya OCI (Labuan) Limited (“DOCIL”), has entered into a Charter Party Contract with Technip Norge AS for the provision of an offshore subsea construction vessel.

The contract has an estimated value of RM250-440 million.

It also includes the provision of a range of offshore services on a long-term charter basis for the North Sea and North Atlantic Regions, Daya announced on Bursa Malaysia.

On behalf of DOCIL, Daya Offshore Construction Sdn. Bhd. (“DOC”) will be executing the Charter which is expected to commence in 2014, and a short term project with Technip is expected to commence in September 2013.

The Charter Contract is for a range period of 100 to 175 days per year for 7 years and it will last until 2020.

Subsea World News Staff, August 20, 2013;  Image: Siem Offshore