Farstad Awarded Extension on Charter Agreement

AHTS Far Santana (UT730, 19.200 bhp) has been awarded extension of the contract with Petrobras, Brazil, for 2 years from October 2007. The vessel has operated for Petrobras since delivery from Ulstein Verft in 2000. The charter rate is considerably improved and the contract value is approx. NOK 275 million.