PSV Energy Swan; Source: Golden Energy

Repsol hires Golden Energy Offshore’s vessel for more work

Norwegian vessel owner and operator Golden Energy Offshore Services (GEOS) has secured a new contract for one of its platform supply vessels (PSVs) with Repsol Norge, a subsidiary of Spain’s Repsol.

PSV Energy Swan; Source: Golden Energy

Golden Energy Offshore Services explains that the new deal for the PSV Energy Swan is in direct continuation of the current charter contract, which Repsol Norge recently extended to 1 November 2023.

The new contract is for a firm period of two months and comes with optional two plus two months, which represents a total of four months of options. While the company did not disclose any financial details, it did say that the contract reflects the current market rate for this type of vessel.

The 2005-built Energy Swan is a large PSV/pipe carrier of an ST 216 design. It can accommodate 28 people. Previously, the vessel worked for Wintershall Norge, a Norwegian unit of Wintershall Dea.

GEOS is expanding its fleet of offshore supply vessels, thanks to a binding memorandum of agreements for the acquisition of four PSVs and one safety & standby vessel (SSV) from subsidiaries of the Netherlands’ Vroon Holding for a total consideration of $94 million.

At the end of August 2023, Golden Energy Offshore Services also revealed a contract extension for another PSV with an undisclosed operator in the Caribbean.