Congo : Farstad Shipping joins Total subsea activity

Farstad Shipping on 27 September said it is awarded, by Petro Services, 18 month contract to support Total E&P Congo subsea development activity in Congo.

“The commercial terms of the agreement will be kept private and confidential between the parties”, the Oslo listed company added.

However, the company said commencement of the contract will take place during fourth quarter 2016 and Total has option to extend the contract by 6 x 2 months periods.

“We are very pleased to be selected as Total’s preferred partner for the next phase of this project”, Karl-Johan Bakken, CEO of Farstad Shipping ASA, said.

Mr. Bakken went on to state : “this contract shows the attractiveness of our new series of subsea vessels that meet our client’s expectations for advanced subsea operations in deep water production developments”.

Total has been present in Congo since 1968 and is the leading exploration and production operator and second-biggest petroleum product retailer in the country.

It currently operates 16 offshore fields producing in the country, including Nkossa-Nkossa Sud-Nsoko (53.5%), Moho-Bilondo (53.5%), Yanga-Sendji (55.25%), Kombi-Likalala-Libondo (65%), Tchendo (65%), Tchibeli-Litanzi-Loussima (65%) and Tchibouela (65%).

Over the last 18 months, Far Sleipner has developed very good relations with Total through the work performed on the MOHO North field development project in Congo.

The Farstad family owns 46% of 39 million outstanding shares of the Farstad Shipping company which has currently 56 vessels fleet.