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.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,542 members that receive our newsletter.
Have a news tip? Let us know.
Oslo-based car shipping company Wallenius Wilhelmsen has announced plans to supersize four of its twelve Shaper Class vessels on order to a record-breaking capacity of 11,700 Car Equivalent Units (CEUs)....
Korean conglomerate Hanwha has officially withdrawn its takeover bid for Australian defense shipbuilder Austal, citing insurmountable obstacles in conducting due diligence. Following the acquisition of the former Daewoo Shipbuilding and...
Huntington Ingalls Industries (HII) has been awarded a historic $9.6 billion multi-ship procurement contract by the U.S. Navy, marking the first use of the combined procurement approach in amphibious warship...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,542 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
