Siem Offshore Inc has entered into a charter contract for the Multi-purpose ROV Support Vessel Siem Marlin that was delivered from the Kleven yard on 27 February 2009.
The vessel shall be used by a subsidiary of Chevron as a field, ROV and subsea installation vessel at the Agbami field 70 nm offshore Nigeria. The contract is entered into with a local Nigerian entity. Siem Offshore shall be the vessel provider and a subsea contractor shall provide the engineering, ROV and subsea installation services.
The contract shall commence the first week of March 2009. The term of the contract is for an initial period of up to 12 months, to be superseded with a firm period of two years plus one year of option.
The contract value is approximately USD 15 million for each 12 month period.