Dutch offshore vessel owner Fugro has finalized a purchase agreement with Solstad for the offshore inspection, repair & maintenance (IRM) vessel REM Etive.
.Fugro said the conditions of the agreement are significantly more beneficial than a renewed charter agreement. The vessel has been operating in Southeast Asian waters for Fugro under a charter agreement since 2007.
“The move supports a portfolio of IRM contracts being executed by Fugro in the Asia Pacific region and is expected to strengthen the company’s position in relation to future subsea inspection business in the area,” the company said in a release.
“We are excited to secure the REM Etive and to continue her deployment for our clients in the APAC region,” said Mark Heine, divisional director marine and member of Fugro’s board of management. “With three multi-year IRM contracts already in place, two of which were awarded in recent weeks, this vessel is the best fit with our fleet to enable us to continue our delivery excellence and efficient performance in subsea IRM projects.”
In February, Fugro secured a three-year IRM contract in the Asia Pacific region from an undisclosed client. Total value of the contract is around $86.4m.
