Norway: Farstad Secures Several Charter Deals for its PSV, AHTS Vessels

AHTS Far Scimitar (2008, UT 712 L, 14.688 BHP) and AHTS Far Sky (1991, ME 303 mkII, 13.382 BHP) have both been awarded a 14 month firm contract by Apache Energy to support drilling operations offshore Western Australia. The charters will commence in March and include an option on each vessel for further 12 months.

AHTS Lady Sandra (1998, KMAR 404, 15.014 BHP) and AHTS Far Fosna (1993, UT 722, 14,400 BHP) have been awarded a four well contract by Santos Limited, Australia. The program is scheduled to commence later this month and take around 6 months.

Esso Australia has exercised a 3 month option for PSV Lady Kari-Ann (1982, ME 202, 2.972 DWT). This will commence in April, 2011 and 3 x 3 month options remain on the vessel. The vessel will remain supporting Esso’s offshore production operations in Bass Strait.

McDermott Industries Ltd. has extended the contract for AHTS Lady Cynthia (1987, Hart Fenton, 9.525 BHP) for further 3 months. Lady Cynthia will continue to support McDermott’s Kipper Tuna Turrum project development for Esso Australia.

In Norway Statoil has extended the contract for PSV Far Seeker (2008, UT 751 E, 4.500 DWT) for further 12 months with commencement in April.

The total value of the contracts, exclusive options, is approximately NOK 325 million.

325 million Norwegian kroner = 57.5068 million U.S. dollars

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Source: Farstad , March 16,, 2011;