Norwegian offshore vessel operator Siem Offshore has secured contract extensions for two offshore subsea construction vessels (OSCVs).
GE Renewable Energy has exercised its remaining options for the 2014-built OSCV Siem Stingray, which will see the vessel further utilised into the first quarter of 2022. The firm six-month contract commenced in April this year.
Moreover, the contract for Siem Spearfish has also been extended with an undisclosed subsea construction company in the Gulf of Mexico. The vessel will continue to perform its current duties under subsea construction work well into the first quarter of 2022, with corresponding new options issued thereafter.
“The extensions are seen as a very positive development on the year-on-year utilisation perspective for our OSCV fleet,” the company said in a release.