Farstad and Technip to Build New Subsea Support Vessel

Norwegian OSV operator Farstad Shipping ASA announced today the award of a 5-year framework agreement by Technip Norge AS for delivery of ROV support operations, light construction work, IMR and other subsea related activities.

To fulfill the contractual obligations, Farstad says they will enter into an agreement to build one subsea/IMR vessel, one that has been jointly developed with Technip to support Inspection, Maintenance and Repair (IMR) operations and includes a 150-ton active heave compensated crane.

The agreement will commence in Q1 2017 and gives Technip the right to utilize the vessel for up to 320 days per year, and to extend the contract with a further up to 5 year period.

Final negotiations with regard to the shipbuilding contract are in progress, according to Farstad, however no further details were provided on the shipyard or the design.