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    TransAtlantic: Russian sanctions unlikely to affect operations

    Company News // September 25, 2014

    Transatlantic says it believes that EU and US Sanctions on Russia will not have an impact on operations and financials at its business unit Viking Supply Ships.

    Four of Viking Supply Ships’ anchor handlers, of which three are ice-class 1A units and one an icebreaker, are currently operating offshore Russia in the Kara Sea.

    The contract relates to the 2014 and 2015 drilling seasons with options for the drilling seasons 2016 and 2017. The drilling seasons are expected to commence around May each year.

    Viking Supply Ships is also contracted for consulting services related to the offshore operations in the Kara Sea for the years 2014 and 2015.

    "The present EU and US sanctions are not expected to impact Viking Supply Ships’ operations and financials in 2014," said the company. "It is too early to say whether sanctions will impact the drilling seasons in 2015 and onwards."

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