Golden Energy Offshore scores new vessel contracts

Norway’s Golden Energy Offshore Services (GEOS) has secured new term contracts for its fleet with undisclosed international operators.

The 2019-built large platform supply vessel (PSV) Energy Empress has been fixed to an international operator to conduct environmental monitoring activities and sampling. For the new contract mobilisation and demobilisation of topside equipment will take place in Norway and operation offshore Ghana. The contract, said to be on today’s market terms, has already commenced and is for a period of 100 days firm plus options.

The PSV Energy Duchess, also built in 2019, has secured a contract in direct continuation from the present contract. The vessel is currently completing a job at Trinidad & Tobago / US Gulf of Mexico and will be redelivered to owners in Esbjerg in time to commence her new 150-days contract, which comes with options to extend the charter.

In addition, the 2005-built PSV Energy Swan commenced its long term contract with Repsol in Norway last year. The operator has options to use the vessel for a total additional period up to 12 months and if options are used, the vessel will be utilised until the end of 2023.

The new contracts in addition to the existing ones, secure 100% utilisation of GEOS’ active vessels through remaining of Q1 of 2022 and Q2, 70% backlog for Q3 and 60% for Q4. The firm backlog has a consolidated value in excess of NOK65m ($6.3m).

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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