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Statoil awards shuttle tanker contract

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Statoil has announced that it has awarded a contract to AET – a subsidiary of MISC Berhad – to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter.

The new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. The two existing DP2 tankers are owned and operated by AET Sea Shuttle AS (AETSS), which is a joint venture (JV) formed in 2012 that is 95% owned by AET and 5% by Norwegian ADS Shipping.

The two twin skeg 125 000 DWT tankers will be constructed by Samsung Heavy Industries, with delivery scheduled for 2019. They will be contracted to Statoil for operations both in oilfields on the Norwegian Continental Shelf of the North Sea, Norwegian Sea and the southern Barents Sea, as well as on the UK Continental Shelf.

The vessels will be able to operate in the harshest weather conditions. Each will be equipped with winterisation features, high power thruster, shaft generators and the latest generation of bow loading system.

The shuttle tankers will feature LNG dual-fuel main and auxiliary engines, and also be fitted with a volatile organic compound (VOC) recovery system. Other environmental innovations will help to maximise fuel efficiency and minimise emissions. When they commence operations in 2019, the vessels are expected to be the world’s first LNG-fuelled DPSTs, and the most energy efficient.

Statoil’s senior vice president for asset management in Marketing, Midstream and Processing, Grete Birgitte Haaland, said: “Statoil is pleased to award this contract to AET and their partners and thereby deepen and increase our cooperation within shuttle tanker operations. The agreed newbuild state-of-the-art DP2 shuttle tankers will strengthen Statoil’s position for safe, efficient and cost competitive transportation of offshore loaded crude oil production to our customers. The fuel efficiency features built into these vessels, including LNG duel fuel capabilities, will significantly reduce operational costs and climate emissions. As such this contract is strongly aligned with Statoil’s sharpened strategy.”

Captain Rajalingam Subramaniam, chairman, AET Sea Shuttle AS (AETSS) and president & CEO, AET, added: “We first forged a partnership with Statoil in 2012 when we were awarded a long-term contract to operate two state-of-the-art shuttle tankers in the North and Barents Sea. I am delighted that Statoil has recognised and endorsed the quality of our operations in this most demanding of environments by giving us a further opportunity to support their business with two additional state-of-the-art DPSTs. We believe, as part of the MISC Group, our strategic partnership and our innovative solutions gave us the edge over other operators in the North Sea.

“Statoil is global leader in this region and I am confident that we will deliver on the trust they continue to place in our capability to deliver flawless operations in this challenging region. We are proud to be extending our partnership with this world leading oil company.”

In 2012, the AET Sea Shuttle AS joint venture was formed by AET. The JV is 95% owned by AET, with the remaining 5% owned by Norwegian ADS Shipping. Its purpose is to own and operate two North Sea DP vessels. The two new vessels will also be owned and operated by the same JV partners. OSM Maritime Group will provide the lead technical management, supported by the MISC Group, during the newbuilding.

Bjørn Tore Larsen, ADS and OSM group chairman, said: “This is a great opportunity for us to extend our successful partnership with AET. We have been operating in this region for many years and extending the joint venture cements our relationship both with AET and Statoil. I firmly believe that the combination of technical, operational and commercial skills delivered through the joint venture will continue to provide Statoil with an ocean transportation solution that is second to none.”

OSM Maritime Group will be responsible for the lead technical management during the construction of the vessels, and will be supported by the MISC Group.

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