Farstad Bags Petrobras Contract

By Aiswarya Lakshmi January 27, 2016

Norwegian provider of offshore service vessels for the oil and gas industry Farstad Shipping ASA has entered into two charter contracts in Brazil.

Both vessels were hired by the Brazilian state-owned oil and gas company Petróleo Brasileiro, more commonly known as Petrobras.

Petrobras has awarded the PSV Far Strider (1999, VS 483, 4,709 DWT) a 4 year contract with expected commencement in April 2016.

Petrobras has also awarded the AHTS BOS Turquesa (2007, UT 722 L, 18,088 BHP) a 1 year contract with a further 1 year option. The vessel has commenced the contract.

"This is positive for the company, and a confirmation that we are succeeding in a demanding market," says Karl-Johan Bakken, CEO of Farstad Shipping ASA.

Farstad Shipping’s fleet currently consists of 59 vessels (30 AHTS, 23 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,100 employees engaged onshore and offshore.

Earlier in January, Farstad Shipping sold two of its PSV vessels as part of what it said to be “part of the company’s strategy for the further fleet development”.

The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.