Siem Offshore Handed Contract Cancellations

Siem Offshore Handed Contract Cancellations

Norwegian support vessel operator Siem Offshore Inc. has received notices of termination for three vessels that were booked for work in 2015.

Karmorneftegaz SARL has sent the termination notices in respect of seasonal work in the Kara Sea for the two Anchor Handling Tug Supply vessels Siem Topaz and Siem Amethyst and for Platform Supply Vessel Siem Pilot.

According to the contract, an early termination fee is payable.

Karmorneftegaz SARL (Luxembourg) is the joint venture established between Rosneft (66.67%) and ExxonMobil (33.33%) for the project in the Kara Sea.

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