Otto Marine secures OSV chartering contract worth of AUD94.8 million to a renowned international E&P company
Otto Marine Limited, a leading offshore chartering group, which owns and operates more than 50 offshore support vessels globally, and also engaged in specialized shipbuilding, repair and conversion of offshore support vessels, an nounced today that its wholly - owned subsidiary, GO Offshore Pty Ltd, has been awarded a chartering contract worth up to AUD94.8 million.
The vessel under the charter will be a 100 - tonne Bollard Pull OSV, for FPSO infield support in the gas field of 40 - year life in Australia. The client is a renowned international oil and gas exploration and production (“ E&P ”) company.
The chartering contract is confirmed for 5 years from May 2017 with the option of an additional 5 year extension. The contract value for the confirmed period of 5 years is AUD47.4 million and with the Option, the total contract value is AUD94.8 million.
About Otto Marine Limited
Otto Marine Limited is an offshore marine group that owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of larger offshore vessels which can also support deep water application, repair and conversion, and fabrication. Headquartered in Singapore, the Company owns/leases and operates approximately 50 offshore vessels globally. It owns one of the largest shipyards in Batam, Indonesia - one of the most sophisticated yards in Asia Pacific. The yard is building to ABS, DNV and Norwegian class standards. Its customers are primarily deep sea and offshore operators and equipment companies who provide logistics support and offshore services to companies operating in the oil and gas industry globally.
