Vallianz Bags US$300m Contract to Supply Two Platforms
Singapore-listed Vallianz Holdings has won a contract worth up to US$300 million (S$405.51 million) to supply two self-elevating platforms to a large national oil company in the Middle East.
The contract from one of the world’s largest national oil companies involves the supply of two self-elevating platforms which will be used to perform well servicing for offshore platforms and well structures.
The five year charter contract, which includes a two-year extension option, is expected to commence in the third quarter of 2015. The platforms will be used in the Arabian Gulf.
Ling Yong Wah, CEO of Vallianz, said, “This is the first time the group will be supplying this type of self-elevating platforms and we are honoured that the NOC has once again selected Vallianz to support its vast offshore oil and gas operations in the Middle East."
"This contract reinforces Vallianz’s superior advantage as a premier supplier of offshore support vessels to the NOC, and validates the Group’s ongoing strategy to widen our product offering with more specialized vessels,” he added.
The platforms are self-propelled, equipped with cranes and capable of supporting various offshore operations, from wire line intervention activities and wellhead maintenance to the transportation of materials, equipment and personnel.
The contract reinforces the group’s superior advantage as a premier supplier of offshore support vessels to the customer, and validates the group’s ongoing strategy to widen its product offering with more specialized vessels.
Previously, Vallianz had secured a five-year time charter award worth USD97 million with the same customer to supply a customized offshore floating storage and supply vessel (OFSSV) in December 2014.
At present, Vallianz has 26 AHTS vessels and PSVs operating in the Middle East.
