Indonesian offshore services company Wintermar has been awarded a five-year contract to provide two offshore support vessels (OSVs) for a multinational oil and gas company in Indonesia.
Wintermar will supply two anchor handling tug supply vessels to support production off the northern coast of East Java for a period of five years. The vessels will support an FPSO unit in a producing field.
The total contract value of the contract for this project amounts to $22 million, Wintermar said in a statement on Tuesday.
“We are pleased to have been selected to support this project by a leading multinational oil and gas company. This affirms our clients’ recognition of Wintermar’s committed efforts to ensure high standards of quality, health and safety”, said Sugiman Layanto , Managing Director of PT Wintermar Offshore Marine Tbk.
“This long term contract underlines the Indonesian government commitment to invest heavily to raise the country’s output of oil and gas after some years of decline. Wintermar as the leader in the domestic offshore vessel industry is ready to play our role”.
As of 24 May 2021, the company’s contracts on hand amount to $76.7 million.
Wintermar noted it has been studying some potential projects to position for a recovery. During the past two years, the company has sold many older vessels and reduced gearing to 31 per cent by the end of December 2020.