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New supply vessel to be hired

March 8, 2006, 15:00 CET

Hydro has entered into an agreement with the shipping company Farstad Shipping ASA concerning the leasing of a supply vessel. The vessel will join the pool of vessels that supply Hydro's production platforms and hired drilling rigs from the supply base Mongstadbase.

The contract – which has a duration of 32 months, with additional options – states that the shipping company is to build a new vessel. Until the newly-built vessel arrives, Farstad Shipping will provide the vessel “Far Symphony” as an interim solution.
 
The vessel will join Hydro’s supply vessel pool serving Hydro’s production platforms and supplied from the base Mongstadbase, as well as supplying hired drilling rigs in the same area. 

The new vessel comes with the option of including newly-developed equipment for remote-controlled pipe handling in connection with the transfer of bulk cargo. This option also includes the securing of deck cargo, meaning that deck crew will to a lesser extent take part in hazardous activities on the loading deck.

Information on the contract and the vessel:
Duration: 32 months
Shipping company: Farstad Shipping ASA
New vessel design: UT 751 E