Norwegian oil and gas giant Statoil has awarded a long-term contract to AET for the operation of two offshore loading shuttle tankers (OLSTs).
According to Statoil, these new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. AET is a subsidiary of Malaysian energy shipping group, MISC Berhad.
The two twin skeg 125,000dwt tankers are yet to be built. South Korea’s Samsung Heavy Industries is expected to deliver the units in 2019.
As for the contract value, Statoil did not provide any details. MISC, however, said in a separate statement that the estimated contract value will be based on the charter period which Statoil will decide on and announce by December 31, 2017.
According to MISC, Statoil has two options to decide on. Either a 5-year charter period with and estimated contract value of $200 million; or a 7-year charter period – estimated contract value at $275 million.
Once delivered, the shuttle tankers will be contracted to Statoil for operations both in oilfields on the Norwegian Continental Shelf of the North Sea, Norwegian Sea and the southern Barents Sea as well as on the UK Continental Shelf.
Statoil has provided the specifications, according to which, the vessels will be fully capable of working in the harshest of weather conditions. Each will be equipped with winterization features, high power thrusters, shaft generators and the latest generation of bow loading system.
They will be built with LNG dual-fuel for main and auxiliary engines and also an option to be fitted with a volatile organic compound (VOC) recovery system.
“Statoil is pleased to award this contract to AET and their partners and thereby deepen and increase our cooperation within shuttle tanker operations. The agreed newbuild state-of-the-art DP2 shuttle tankers will strengthen Statoil’s position for safe, efficient and cost competitive transportation of offshore loaded crude oil production to our customers.
“The fuel efficiency features built into these vessels, including LNG duel fuel capabilities, will significantly reduce operational costs and climate emissions. As such this contract is strongly aligned with Statoil’s sharpened strategy,” said Statoil’s senior vice president for asset management in Marketing, Midstream and Processing, Grete Birgitte Haaland.
Offshore Energy Today Staff