Norwegian offshore vessel owner Solstad Farstad has secured a contract extension for one of its vessels in the U.S. Gulf of Mexico.
The Oslo-listed company on Thursday said the contract extension was secured for the construction support vessel Far Sentinel.
The present contract with Blue Marine has been extended by approximately 18 months to June 2020 for operations in the Gulf of Mexico.
The contract has incorporated an early cancellation clause, which includes a significant termination fee. However, early cancellation cannot be exercised before November 2018.
The Far Sentinel is designed for subsea construction/IMR operations to 3,000 meters water depth, has an overall length of 142.6 meters, beam of 25 meters and a deck area of 1,800 m². The vessel is equipped with two offshore cranes, of which the larger one has a lifting capacity of 350 tons.
Source: Offshore Energy Today