Eidesvik Wins Supply Vessel Contracts

Eidesvik Offshore announced Friday it has won several new deals that mean all of its LNG-propelled vessels are now on long-term contracts. The new deals have a combined value of $168 million (NOK 1 billion).

Eidesvik operates a fleet of specialized vessels for three main markets: supply and logistics; subsea; and seismic survey and cable laying.
The Leiv Eiriksson Consortium has awarded Eidesvik two contracts for its Viking Lady and Viking Athene supply vessels. These contracts will start in 1Q 2012 and cover at least 15 wells, with an option to have the contracts extended for an additional 18 wells.
Meanwhile, Lundin Norway has also taken up an option to use the Viking Prince supply ship for a total of seven wells.
In addition, Statoil and Eidesvik have agreed to exchange Viking Lady with Eidesvik's new build "Viking Princess" when she is delivered from the Kleven shipyard September 2012.
Eidesvik said that its decision more than a decade ago to develop the Viking Energy as the world's first LNG-powered offshore vessel is "paying off". The vessel was delivered in 2003 and employs two dual-fuel engines that can be run on liquefied natural gas that reduce NOx emissions.
"It is very satisfying that our customers once again show us trust and assign long term contracts with us," said Eidesvik CEO Jan Fredrik Meling in a press statement.
The contract awards come just over a week after Eidesvik announced that it was investing more than $168 million (NOK 1 billion) in a new subsea vessel that is to be built by Kleven Maritime. The new vessel is scheduled to be delivered in 2Q 2014 and will have a deadweight of 13,500 metric tons, have two offshore cranes of 400 tons and 100 tons respectively, and will be designed to operate in Arctic waters. 


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