Indonesia’s Wintermar Offshore Marine Group reports that it has booked a contract valued at $22 million that will see it supply two Anchor Handling Tug Supply vessels to support production off the northern coast of East Java for a period of five years. The vessels will support an FPSO (Floating Production Storage Offtake) unit in a producing field.
“We are pleased to have been selected to support this project by a leading multinational oil and gas company. This affirms our clients’ recognition of Wintermar’s committed efforts to ensure high standards of quality, health and safety,” said Sugiman Layanto ,managing director of PT Wintermar Offshore Marine Tbk. “This long term contract underlines the Indonesian government commitment to invest heavily to raise the country’s output of oil and gas after some years of decline. Wintermar as the leader in the domestic offshore vessel industry is ready to play our role.”
As at May 2021, the company’s contracts on hand amount to $76.7 million.
“As the oil industry is recovering globally, there are more projects being reactivated again,” says Wintermar. “The management has been studying some potential projects to position for a recovery. During the past two years, the company has sold many older vessels and reduced gearing to 31% by end December 2020. Overhead costs have been significantly reduced and the company has a strong commitment to sustainability.”