Singapore-listed offshore oilfield services provider, Vallianz Holdings (Vallianz) has been awarded a contract win worth up to USD300 million to supply two self-elevating platforms in the Middle East.
The contract win marked the first time that Vallianz entered long-term charter agreement in supplying self-elevating platforms to a national oil company based in the Middle East. Thus, it reflected Vallianz’s “ongoing strategy” to widen its product offering with more specialized vessels.
Under the contract, both self-elevating platforms are expected to deploy from the 3Q15 for a period of five years, with an option to extend the charter for another two years until 2022.
The two platforms are self-propelled, equipped with cranes and capable of supporting various offshore operations, from wire line intervention activities and well head maintenance to the transportation of materials, equipment and personnel.
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. The OFSSV will be the first of its kind to be deployed in the Middle East when the contract commences in the 3Q15. To date, the company has 26 anchor handling tug and supply vessels (AHTS) and platform supply vessels (PSV) operating in the Middle East.