Ocean Yield, a ship owning company, has announced that the modification of Aker Wayfarer vessel at Kleven Myklebust in Norway was completed on Wednesday, July 6.
Ocean Yield, the owner of the vessel, said on Thursday that the vessel is on long-term charter until 2027.
Furthermore, the company stated, the vessel will receive an additional charter rate reflecting the modification investment as from July 6, 2016.
The 157 m long and 27 m wide Aker Wayfarer was outfitted at the shipyard in Norway to become a deepwater subsea equipment support vessel (SESV). The works included adding a fibre-rope deployment system, deck skidding systems and a subsea orientation equipment system, allowing it to install and retrieve subsea trees and modules, including subsea structures and manifolds.
The modification was undertaken so the vessel could perform subsea intervention services offshore Brazil for Petrobras.
The contract with Petrobras was won in September 2014 by Aker Solutions’ then subsidiary, Aker Oilfield Services (AKOFS), which at the end of September became part of Akastor, one of two companies formed as part of the separation of Aker Solutions.
Ocean Yield then agreed with AKOFS that the investment of approximately $100 million would be funded by Ocean Yield against an extension of the current bareboat charter from September 2020 until September 2027.
The contract with Petrobras is set to start within the fourth quarter of 2016.
Aker Wayfarer is designed by Vard Design, and delivered from Vard Søviknes in 2010.
Offshore Energy Today Staff