Statoil hires AET shuttle tankers on long-term charters

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

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2019 >>
MTWTFSS
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 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

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

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