Atlantic Offshore plans to order newbuild ERRV

JANUARY 24, 2013 — Norway’s Atlantic Offshore is poised to order a new ERRV (emergency rescue and response) vessel, backed by  a new contract from Shell.

With this latest newbuild, Atlantic Offshore will have invested NOK 2.5 billion in its fleet modernization program.

“We have not yet decided where the ship will be built,” says CEO Roy Wareberg. “This will be assessed during the next few weeks.”

The company has, however, decided that it will be built to Havyard’s HY 820 Field Support Vessel design. It currently has two similar vessels under construction by Spanish shipbuilder Astilleros Zamakona  at its San Sebastian shipyard.

The latest contract comes from Shell UK and the vessel is to be completed in 2015 for operation in the Fram field in the North Sea.

Atlantic Offshore has new contracts with Shell Norway, Shell UK and ADTI UK, account for approx. NOK 500 million, of which NOK 300 million is firm business and NOK 200 million relates to optional periods for the charterers. Two of the contracts commence in March 2013.

Mr. Wareberg says that Shell has both signed new agreements with the company, and extended existing contracts by exercising options.

“We have been close partners for many years, and consider it as a vote of confidence that Shell choose to expand the cooperation,” he says.