Bibby Offshore, provider of subsea installation and services to the offshore oil and gas industry, said it has secured a long-term extension to the charter of its dive-support vessel (DSV) Bibby Topaz, owned by Volstad Maritime.
The terms and conditions of the extended charter arrangement have been adjusted to reflect the current market environment. According to Bibby Offshore, the charter extension allows it to maintain and grow the group’s market share in the North Sea
The new contract sees Bibby Offshore secure exclusive and uninterrupted access to this asset until December 31, 2019, with flexible options to further extend the charter to the end of 2024.
As one of the premier DSVs in the North Sea, the Bibby Topaz has won and executed major scopes of work with existing and new clients in the North Sea as part of Bibby Offshore’s fleet since its delivery in 2008. The vessel has thus been identified as the best technical and commercial option for the group, the company said.