Chevron Awards PSV Extension Offshore Australia

Published at 03:53PM - 28/10/16

Deep Sea Supply announced today it has been awarded a seven-month extension of the bareboat contracts for two of its platform supply vessels (PSV).

Under the contract extension, the Sea Tortuga and the Sea Triumph will their operations extended in Australian waters, chartered to Chevron.

“Both vessels have been working under current contract since end of March 2015, and the bareboat contracts for both vessels are now firm until the end of April 2017 plus in total 130 days options for each vessel,” the company informed in a statement.

Chevron Awards PSV Extension Offshore Australia

The two vessels were built by Cochin Shipyard Limited in India and delivered in 2014.

They are both 4,000 dwt PSVs of STX 05-L CD design, which can accommodate 28 people.

Chevron Awards PSV Extension Offshore Australia
Deep Sea Supply’s Sea Tortuga PSV

The vessels joined Deep Sea Supply’s fleet through the acquisition of PSV Holding in 2014.

At the time of the acquisition, PSV Holding had five operational PSVs, one of which was the Sea Tortuga, while there was an active order for five additional vessels, including the Sea Triumph.

The company’s vessels currently operate in the North Sea, West Africa, Mediterranean, South East Asia and Brazil.

Chevron Remains Key Player in Australia

Chevron is the largest exploration lease holder in Australia, holding a participation interest in a series of projects and leading the investment of more than US$84 billion worth of liquefied natural gas (LNG) projects on behalf of its joint venture (JV) partners.

The oil and gas major holds the largest natural gas resource position in Australia in the North West Shelf region.

This morning, the multinational posted a decline in its earnings and revenues for the third quarter.

The company’s worldwide net oil equivalent production was 2.51 million barrels per day in the period, compared to 2.54 million bpd a year ago.

Declining fields, asset sales and planned maintenance were compensated by production increases from major projects, the company explained in a statement.

Last updated on 10:26AM - 29/10/16