Island Offshore and TIOS, a company owned by TechnipFMC and Island Ofshore, have signed a new agreement with Equinor to continue as supplier of light well intervention services utilising Island Wellserver.
The vessel has been working for Equinor since 2009, and the new contract will commence in 2020 extending the existing contract for one year. Equinor also has three further one-year options.
Håvard Ulstein, managing director of Island Offshore Management, commented: “The last few years have really put us to the test, but as owner and operator within light well intervention we have asserted that this segment is viable. This contract proves that our services are needed.”
TechnipFMC owns 51% of TIOS, while Islandf Offshore owns the remainder. TIOS is the contracting party with Equinor, and Island Offshore is supplying the vessel and crew.