Danish offshore contractor Esvagt has seen improved movement in the offshore oil and gas markets, leading to the recent signing of new contracts for its offshore support vessels.
The vessels Esvagt Castor and Esvagt Carpathia were signed up for offshore campaigns following a period where the combination of Covid-19 and low oil prices significantly stunted activities in the oil and gas sector.
“The low oil prices we have experienced this spring plus the difficulties we have experienced getting people out to work due to travel restrictions have meant that many have chosen to postpone jobs and campaigns,” said Ib Henrik Hansen, head of commercial for Esvagt.
Ithaca Energy extended its contract with Esvagt Christina as an ERRV for the Stella field in the Central Graben area in the UK sector of the Central North Sea for standby services and other ERRV tasks. The contract includes options for another year.
At the end of March, Esvagt Champion entered into a 450-day contract with IOG and the rig, the Noble Hans Deul, to provide support for well operations.
The Esvagt Castor started providing support for Hess for a campaign in the Danish sector along with the Esvagt Innovator. Total DK has chartered Esvagt Carpathia, and Esvagt Don has been reactivated for the spot market and as a backup crew change vessel.
“There are definite positive trends in the market and we are seeing an increase in activity levels that look good right now and promising for 2022,” said Hansen.