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GEOS secured yet another contract extension with Repsol for the vessel PSV Energy Swan. The new agreement ensures greater stability in the maritime services business.
Golden Energy Offshore Services (GEOS) has won a lucrative contract with Repsol for the vessel PSV Energy Swan, reinforcing its competitive position in the offshore support sector. The extension of the contract will continue until November 2023, ensuring stability in the market maritime. With impressive gains and high utilization of its fleet, GEOS consolidates its relevance in the market, making an essential contribution to the operations of Repsol and other players in the industry.
Contract between GEOS and Repsol for PSV Energy Swan will continue until November
GEOS announced a contract extension with Repsol Norge for the vessel PSV Energy Swan last Thursday. The contract has a firm period of one year, with the possibility of a further year extension.
Following the end of the initial contract period for the vessel PSV Energy Swan, the companies had agreed to extend the contract for another six months, effective until May 1, 2023.
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Subsequently, both parties decided to extend the contract again, this time for another two months, effective until July 1, 2023.
Now, the companies have reached the final agreement to extend the contract once again, this time until November 1, 2023.
In this way, the partnership between GEOS and Repsol Norge guarantees the vessel's availability for the agreed period, contributing to Repsol Norge's operations and projects on the high seas.
This is yet another agreement that guarantees the stabilization of GEO's business in the maritime market with its platform supply vessel.
Both companies will continue enjoying the benefits of the agreement until the beginning of November.
GEOS expands its footprint in the marine services sector with the PSV Energy Swan
GEOS has a relevant fleet of PSVs that perform important functions in different regions.
One such PSV is the Energy Swan, built in 2005, which features an ST 216 design and has the capacity to accommodate 28 people.
Previously, this vessel operated for Wintershall Norge, a Norwegian unit of Wintershall Dea.
During the month of July 2023, GEOS recorded significant earnings from the PSV Energy Swan, totaling approximately $19.162 per day in time charter revenues.
Operational efficiency also stood out, with an exceptional fleet utilization rate, reaching an impressive 99%.
These numbers reflect the high demand and reliability of the services provided by the company.
Currently, the PSV Energy Swan is under contract with Repsol, an important company in the energy sector.
This strategic partnership ensures that the vessel provides essential support and logistics for Repsol's offshore operations.
The collaboration between GEOS and Repsol becomes a crucial component for the success and effectiveness of the energy company's activities in the sector.
In addition to the PSV Energy Swan, the PSV Energy Duchess, from the same operator, is in an advantageous position in the market, presenting several business opportunities for the company.
This diversity of activities expands revenue possibilities and strengthens GEOS' competitive position in the market.
In this way, the partnership with Repsol and the diversification of its operations in different regions position GEOS favorably in the current offshore business scenario.
