Esvagt Talks Positive Offshore Oil Market Movement

Esvagt Talks Positive Offshore Oil Market Movement
Positive movement in the offshore oil and gas markets has led to Esvagt, a provider of safety and support at sea, recently signing several contracts, the company has revealed.

Positive movement in the offshore oil and gas markets has led to Esvagt, a provider of safety and support at sea, recently signing several contracts, the company has revealed.

The Esvagt Castor vessel started providing support for Hess for a campaign in the Danish sector, along with the Esvagt Innovator, and the Esvagt Carpathia vessel has been chartered to Total DK. Ithaca Energy was also revealed to have extended its contract with the Esvagt Christina as the emergency response and rescue vessel (ERRV) for the Stella field, in the Central Graben area in the UK sector of the Central North Sea, for standby services and other ERRV tasks.

At the end of March, the Esvagt Champion entered into a contract with IOG and the Noble Hans Deul rig to provide support for well operations. This contract is for 450 days, Esvagt highlighted.

“The low oil prices we have experienced this spring plus the difficulties we have experienced getting people out to work due to travel restrictions have meant that many have chosen to postpone jobs and campaigns,” Ib Henrik Hansen, the head of commercial for Esvagt, said in a company statement.

“Last autumn we saw the first signs of reignition, and we now see an increase in demand for vessels,” he added in the statement. “There are definite positive trends in the market and we are seeing an increase in activity levels that look good right now and promising for 2022,” the Esvagt representative went on to say.

Founded in 1981, Esvagt has a fleet of more than 40 vessels and employs approximately 1,100 people both offshore and onshore. The company describes itself as a dedicated provider of safety and support at sea and services the offshore wind industry and the oil and gas industry.

To contact the author, email andreas.exarheas@rigzone.com



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