#Norway #Fornebu #DDW Offshore #Akastor ASA #Petrofac

Akastor ASA's DDW Offshore Secures Important Contract Extension

In a recent announcement, Akastor ASA, based in Norway, revealed that its subsidiary DDW Offshore AS has been granted a significant six-month extension to its existing contract with Petrofac, a prominent player in the energy sector. This extension pertains specifically to the vessel Skandi Emerald, allowing operations to continue under the terms set forth in the original agreement.

Details of the Contract Extension

The contract extension extends the operational timeline for the Skandi Emerald until July 14, 2025. This development not only reinforces the existing collaboration between DDW Offshore and Petrofac but also builds upon previous agreements documented in earlier press releases dated September 27, 2022, and January 30, 2024.

DDW Offshore has built a strong presence within the offshore supply market, making it an integral partner for companies seeking reliable support in maritime operations. Following this contract extension, the cumulative contract backlog for DDW Offshore's fleet, which comprises three advanced vessels, now amounts to approximately USD 38 million. This robust backlog underscores the continued demand for DDW Offshore’s services in an evolving market landscape, particularly as global energy needs grow and businesses seek dependable offshore operations.

About DDW Offshore's Fleet

DDW Offshore operates a modern fleet of Anchor Handling Tug Supply (AHTS) vessels, which includes the Skandi Atlantic, Skandi Emerald, and Skandi Peregrino. Each vessel is specially designed to perform a variety of tasks, including anchor handling, towing, and supply services essential for offshore oil and gas explorations. The versatility and capability of these vessels enable them to support clients in diverse operational contexts across the globe.

This extension further solidifies DDW Offshore's position in the maritime industry, where they are hailed for their reliability and effectiveness in meeting client needs. The company's operational strategy focuses on maintaining a high standard of service while adapting to the dynamic demands of the offshore sector.

Strategic Importance of the Extension

The decision to extend this contract is indicative of the trust that Petrofac has placed in DDW Offshore's capabilities. Such extensions are crucial for maintaining business continuity and fostering long-term partnerships in the oil and gas sector, where projects often span several years and require consistent support.

As the energy sector continues to evolve with increasing emphasis on sustainability and efficient operations, the future of offshore activities will likely reflect these trends. DDW Offshore, through its modern fleet and committed service, is well-positioned to navigate the challenges and opportunities that lie ahead.

For inquiries regarding this contract or other services offered by DDW Offshore, interested parties are encouraged to reach out to Øyvind Paaske, Chief Financial Officer, at +47 917 59 705. More information can also be found on their official website at www.ddwoffshore.com.

In conclusion, the successful extension of the DDW Offshore contract highlights the strength of ongoing partnerships in the energy industry, establishing a promising outlook for continued collaboration and operational excellence.