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Posh wins $100.8m vessel charter contract from Petrobras

Published on May 14, 2014 11:08 AM
 
PACC Offshore Services Holdings (Posh) has secured a US$80.5 million (S$100.8 million) charter contract for its semi-submersible accommodation vessel (SSAV), for use by the Brazilian national oil firm Petrobras. -- FILE PHOTO: PACC 

SINGAPORE - PACC Offshore Services Holdings (Posh) has secured a US$80.5 million (S$100.8 million) charter contract for its semi-submersible accommodation vessel (SSAV), for use by the Brazilian national oil firm Petrobras.

Posh announced on Wednesday that the Posh Xanadu will be used to support the firm's oil and gas production activities in the Campos Basin.

Petrobras will charter the Posh Xanadu for a year, beginning around December 2014, with the option to extend the charter by another year.

If the charter period is extended, the total contract value will be more than US$144 million.

 
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