AsiaOffshore

POSH accommodation rig gets contract extension in Brazil

PACC Offshore Services Holdings’ (POSH) semi-submersible accommodation vessel POSH Xanadu has won a one-year extension to its contract in the Campos Basin, offshore Brazil. The contract value was not disclosed.

The rig (pictured) commenced a $80.5m charter to Petrobras in December 2014, which included a one-year extension option, valued at around $63.5m when the deal was announced.

POSH Xanadu is able to accommodate up to 750 offshore workers with “top-of-the-line safety and comfort features”, its owner said.

“We are delighted to announce the contract as it testifies to POSH Xanadu’s excellent performance and service. Despite facing adverse weather conditions during certain periods over the past year, she was able to achieve 100% operational uptime even when all other floatels in the area had disconnected,” Captain Gerald Seow, CEO of POSH, said in a release.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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