The liftboat, AOS Maintainer I, will be on a firm one-year charter with two one-year extension options to support the NOC’s operations in the Arabian Gulf. The vessel is expected to be deployed in early May, after completion of retrofitting work.
“We are pleased to have been awarded this contract for our liftboat, AOS Maintainer I, under the current challenging market conditions,” commented Bill Wong, executive chairman and ceo of Atlantic Navigation.
“The extended fall in crude oil price over the last 24 months, with project cancellation, postponement and expenditure cut by NOCs, oil majors and operators had resulted in severe challenges in the oil and marine sector,” Wong said.
“Despite these conditions, we continue to pursue our growth strategy together with our regional partners, particularly in our core market in the Middle East.”
Atlantic Navigation had secured long term contracts for 10 OSVs on five-year charter, with two-year extension option, of a combined value of around $236m with the same NOC back in May 2016.
Two of the OSVs have been delivered to the NOC in 2016 and the third vessel was deployed in January 2017. The remaining seven OSVs which are to be newbuilds, will be deployed over the second half of 2017 upon their deliveries.
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