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    Vard wins billion Dollar deal for PLSVs

    Yard News // August 12, 2013

    Vard Holdings Limited has secured contracts with joint ventures of DOF Subsea and Technip for the design and
    construction of four Pipe Lay Support Vessels (PLSVs).

    The contracts constitute the largest order in VARD’s history, with an aggregate order value of approximately US$ 1.1 billion.

    Two of the vessels, of VARD 3 05 design, will be delivered in 2Q 2016 and 3Q 2016 respectively. The hulls of these vessels will be built at Vard Tulcea in Romania and outfitted at Vard Søviknes in Norway.

    The other two vessels, of VARD 3 16 design, will be delivered from Vard Promar in Brazil, in 4Q 2016 and 2Q 2017 respectively.

    The new designs were developed in close cooperation with DOF and Technip. The Norwegian built vessels will carry pipelay towers rated at 650 tonnes, among the largest ever in the industry.

    At 340 tonnes, the Brazilian built vessels will be among the most complex vessels ever constructed in Brazil. Topside equipment for all four ships will be delivered by Huisman of the Netherlands.

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