VARD Secures $65M Contract to Build OSV for Island Offshore
Singapore-listed Vard Holdings Limited (VARD), one of the major global designers and shipbuilders of offshore and specialized vessels, announced Friday that it has secured a new contract with Island Offshore for the construction of one advanced offshore support vessel. The value of the contract amounts to approximately $65.24 million (NOK 400 million).
The vessel is scheduled for delivery from Vard Brevik in Norway in 1Q 2015. The hull of the vessel will be delivered from Vard Braila in Romania. The vessel is designed by Rolls-Royce.
CEO and Executive Director, Roy Reite, at VARD says, “We appreciate the long-term relationship we have with Island Offshore. This cooperation has once again resulted in an innovative new project for VARD. In total, we have delivered more than 30 vessels to Island Offshore. Currently, VARD has five vessels under construction for Island Offshore. We look forward to continuing and developing this excellent relationship.”
The Island Offshore Group is a leading provider of services to the offshore industry managing a fleet of 28 vessels including 4 newbuildings. The vessels are currently operating in Brazil, Gulf of Mexico, West Africa and in the North Sea.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension