Vallianz Holdings has secured a time charter award worth $97mn with an unnamed national oil company (NOC) in the Middle East.
Under the award, Vallianz will supply a specialised vessel for up to five years from the third quarter of2015 to support the NOC’s oil and gas production activities in the Middle East.
This award, which is subject to formalisation, adds to Vallianz’s ongoing contracts in the Middle East where it presently deploys 21 offshore support vessels (OSV).
With this award from the NOC, the group’s order book will be strengthened from $529.4mn to $626.4mn.
“This is the first time the NOC has considered deploying this type of vessel for its offshore projects,” said CEO of Vallianz, Darren Yeo.
“The award reaffirms the NOC’s confidence in our execution capabilities and demonstrates further traction in the Group’s status as a key OSV provider in the Middle East region.
“We believe the successful deployment of this vessel will place Vallianz in an advantageous position when bidding for similar contracts in the future.”
