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    Operator provides update on newbuilding programme

    Vessel & ROV News // March 28, 2002
    Farstad, the Norwegian operator, has provided an update on its newbuilding programme.

    Since the last quarter, Farstad has taken delivery of Far Scout, a UT 722L design anchor handling tug supply vessel from Aker Langsten. The vessel immediately entered a 20 month contract with Norsk Hydro.

    Farstad has also taken delivery of Far Saga from Simek AS in Flekkefjord. The vessel, which is a UT 745L design platform supply vessel, will be included in Stolt Offshore AS's general contract with Norsk Hydro AS for the delivery of subsea services.

    Far Saga will work as a supply vessel for Norsk Hydro until the necessary equipment has been installed and it is mobilised for subsea services.

    At the end of October, Lady Guro, a UT 719-2 design multipurpose vessel, was delivered to IOS (Farstad's JV with P&O) by the Korean shipyard INP Heavy Industries Co Ltd and entered a five year charter contract with Shell Philippines.

    IOS has on order two UT 712 design anchor handling tug supply vessels from Simek AS for delivery in March and July 2003.

    Far Crusader and Far Centurion's contracts with Petrobras in Brazil have both been extended by two years.

    IOS has signed a two year charter party with Philips in Australia for Far Scotsman which commences in April 2002. Far Scotsman will be chartered into IOS from Farstad on a bareboat contract for at least 2 years. Lady Audrey (IOS) has been awarded a contract with Shell Namibia, which started in January 2002. It is expected to last for around six months.

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