Farstad Shipping Secures Ten AHTS Charter Contracts

Farstad Shipping ASA announced that the it has been awarded a ten charter contracts from various customers.

The contracts are as follows:

AHTS Far Sky (1991, ME 303 II, 13,382 BHP) and AHTS Far Grip (1993, UT 722, 14,388 BHP) have been awarded contracts by ENI Australia Ltd. for a fixed period of 5 months with additional 5 months options. The vessels will be supporting the ENSCO 104 at ENI’s Evans Shoal gas field off Northern Australia.

BHP Billiton has awarded contracts to AHTS Far Sword (2006, UT 712L, 14,688 BHP) and AHTS Far Sound (2007, UT 712L, 14,688 BHP) to support the semi-submersible Jack Bates off North Western Australia. These contracts are for 3  wells firm with the approximate duration of 5 months with a further option of 1 well.

AHTS Far Sabre (2008, UT 712L, 14,688 BHP) and AHTS Far Scimitar (2008, UT 712L, 14,688 BHP) have been awarded contracts by Woodside Energy Ltd. to support the semi-submersible Atwood Eagle off North Western Australia. The  duration of the fixed period is estimated to 100 days.

Chevron has awarded an 18 month firm contract for a Farstad UT 712L AHTS starting Q4 2013 with further options supporting the Ocean America offshore Western Australia.

Brunei Shell Petroleum Company SDN BHD has awarded AHTS Lady Caroline (2003, UT 712, 12,240 BHP) a 5 month contract operating in Brunei waters.

Oil Search (PNG) Limited has declared a 1 well option to extend AHTS Far Fosna (1993, UT 722, 14,388 BHP) and AHTS Lady Sandra (1998, KMAR 404, 15,014 BHP) with an expected duration of approximately 30 days. The contract  involves supporting the semi-submersible Stena Clyde off Papua New Guinea.

Total value of the contracts, excluding options, is approx. NOK 350 mill (USD 58,09 million)

Farstad Shipping ASA, August 6, 2013