Golden Energy Offshore to reactivate laid-up PSV

Norwegian owner Golden Energy Offshore Services (GEOS) has secured a term contract for the 2005-built platform supply vessel Energy Scout and has already started the reactivation process following a 16-month warm lay-up.

The term contract for the vessel is with an undisclosed international operator with a work scope consisting of geotechnical and geophysical surveys and inspection, maintenance and repair (IMR) duties. Financial details have not been disclosed.

GEOS said the new contract has been entered into on today’s market terms and, combined with other contracts for three PSVs secured earlier, it had well more than 90% utilisation until the fourth quarter of 2022.

Earlier this month, GEOS initiated a private placement of new ordinary shares, looking to sell up to 5.5m shares in the market. The net proceeds from the private placement will be used to accelerate the decarbonisation process of the company, to ensure financial capacity and flexibility to pursue growth opportunities, as well as for general corporate purposes.

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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