Sanctions will not impact 2014 ops, Viking Supply Ships says

Sweden’s Viking Supply Ships has informed the company does not expect for the EU and US sanctions to have an impact on operations and financials in 2014.

Four of Viking Supply Ships’ AHTS-vessels, of which three with ice class 1A and one icebreaker, are currently operating offshore Russia in the Kara Sea. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling seasons are expected to start around May each year.

Viking Supply Ships is also contracted for consulting services related to the offshore operations in the Kara Sea for the years 2014 and 2015.

The present EU and US sanctions are not expected to impact Viking Supply Ships’ operations and financials in 2014. It is too early to say whether sanctions will impact the drilling seasons 2015 and onwards, the company said in a statement.