BG exercises option for another KNOT shuttle tanker

Knutsen NYK Offshore Tankers (“KNOT”) has received a notice from a subsidiary of BG Group plc that BG has exercised its option for an additional Suezmax-size DP2 shuttle tanker newbuilding for operation in Brazil.

In connection with the September 12, 2014 contract between KNOT and BG for two Suezmax-size DP2 shuttle tanker newbuildings, BG received an option, for a period of one year, to take up to two more shuttle tanker newbuildings. Following the current exercise of its option for an additional vessel, BG has a remaining option for one more shuttle tanker.

The new vessel will be constructed by Hyundai Heavy Industries (HHI) in South Korea, as are the first two vessels.

Upon delivery, expected to be in mid-2017, the vessel will start operations under a time charter with BG (this will have a minimum term of 5 years). If BG exercises all extension options, the vessel would operate under this charter for a period of 20 years.

KNOT currently owns eight shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Navingo Career Event

The Navingo Career Event is Europe’s biggest career event for the maritime…

read more >

Offshore Technology Conference (OTC) 2020 Postponed

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply