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    NOR Offshore concludes bareboat charter with Jaya

    News // February 18, 2005
    NOR Offshore Pte Ltd(NOR) in Singapore, in which Solstad Offshore ASA has a 33 per cent share, has entered into a bare-boat agreement with Jaya Holdings Ltd to charter two vessels. The firm duration of the bareboat agreements are 15 and 8 months respectively. In addition, NOR has the option to extend the agreement for the first vessel to five years.NOR also has an option to purchase the first vessel and an obligation to purchase the second, during the charter periods.The vessels, presently under construction in Batam, Indonesia, are sister vessels and due for delivery in May and November 2005, respectively, and are anchor handlers with additional equipment such as DP2, accommodation for 42 persons and firefighting.The first vessel, to be named Nor Sea has already been awarded a three month charter as a ROV support vessel on the Sakhalin field in Russia.

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