North Star awarded $134m worth of new contracts

OSV owner and operator North Star has secured a raft of new contracts in the North Sea for its emergency response and rescue vessels (ERRVs), worth more than £100m ($134m).

The new contracts mark the Aberdeen-based firm’s most sizeable ERRV order book in recent years and will see it support new and existing clients in the UK Continental Shelf with additional year charter options.

Matthew Gordon, chief executive of North Star, said: “Winning these significant ERRV contracts worth £100 million demonstrates the industry’s ongoing confidence in our highly effective and reliable fleet which continues to provide a safe place in case of an incident for the thousands of people working out at sea on oil and gas assets every hour of every day, solidly across the year.”

North Star operates 41 ERRVs in its fleet, currently assigned to support 50 offshore oil and gas installations in the region, as well as seven service operation vessels. The company was acquired by Swiss-based private equity firm Partners Group for an undisclosed sum earlier this year.

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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