Farstad Receives USD 80 Mln Worth of Contracts in Australia

Farstad Receives USD 80 Mln Worth of Contracts in Australia

Norway’s Farstad Shipping ASA has been awarded the following charter contracts in Australia:

– Total E&P Australia and Santos Australia Ltd. have awarded AHTS Far Sound (2007, UT 712L, 14,688 BHP) and AHTS Far Sword (2006, UT 712L, 14,688 BHP) contracts for approximately 12 months in support of their combined drilling operations utilising Jack Bates.

– Mobil Australia Resources Company has awarded a 680 day contract to PSV Far Swan (2006, VS 470 Mk II, 3,628 DWT) in support of their Jansz operations supporting the Deepwater Frontier.

– Apache Energy Ltd. has declared their option to extend the contract for AHTS Far Sky (1991, ME 303 Mk II, 13,382 BHP) and AHTS Lady Astrid (2003, UT 712, 12,240 BHP) for 12 months, extending the vessels until mid 2013.

Total value of the contracts is approximately NOK 490 million (USD 80 million).

Farstad Shipping’s fleet currently consists of 53 vessels (29 AHTS, 21 PSV and 3 SUBSEA) and 8 PSV and 4 AHTS under construction. The company’s operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, MacaĆ© and Rio de Janeiro with a total of 2000 employees engaged onshore and offshore.

Press Release, June 29, 2012