Island Offshore has secured long-term contracts for several of its platform supply vessels. The two LNG-fuelled PSVs Island Crusader and Island Contender as well as a third sister vessel Island Commander, are awarded contracts with Lundin Norway: The two first-mentioned vessels for a period of 600 days and 400 days respectively, while Island Commander can look forward to a contract with a duration of three whole years. Options of extension comes in addition for all three vessels.

“We have not seen contracts of equivalent duration for quite some time now, which makes it extra pleasant to sign contracts for three vessels in one go. This provides predictability for all our employees as well as a stable income for these vessels,” says a pleased Managing Director of Island Offshore Management AS, Tommy Walaunet.

The work will commence between April and August this year for the two LNG vessels, while Island Commander will take on its new contract in November, in direct continuation with the existing contract. Island Crusader will be supporting the rig West Bollsta for ten wells, while Island Contender will be supporting the rig Rowan Viking drilling seven wells. Island Commander will continue supporting the drilling activity at Edvard Grieg as she does today.

«Long-term customer relationship are important to us. All three vessels have been term contracts for Lundin before, hence they know our vessels well. It pleases us to see that they are increasing their activity and have a long-term needs for our vessel,” says Walaunet.

Contract extensions

Island Offshore also secured a one year extension of an existing contract for the PSV Island Champion working out of Aberdeen. A long-term relation with the customer Team Marine started back in 2007:

“Both vessel and crew have delivered high quality services for years with exceptionally good feedback from the customer. We are pleased and proud to have secured this extension for Island Champion,” says Walaunet.

In addition to these contracts, Island Offshore has secured long-term contracts for two additional PSVs- also as a result of good a long-term relations to an unnamed customer.

“These contracts provide a significant contribution to our order book and secures work places to our competent crew,” Walaunet rounds off.

About Island Offshore

The Island Offshore Group is privately owned and comprises a group of ship owning and management companies. The Island Offshore Group is currently operating a fleet of 27 vessels ranging from Platform Supply vessels, Anchor Handling Vessels, Subsea Construction Vessels to Light Well Intervention Vessels. In addition, the Group has one vessel under construction.

About Lundin Petroleum

Lundin Petroleum is one of Europe’s leading independent oil and gas exploration and production companies with operations focused on Norway and listed on Nasdaq Stockholm (ticker LUPE).