Norwegian energy company Hydro has declared its option for a further three year charter period for Farstad’s Far Saga but both companies are keeping the rate a secret. The option period commences on 1 May next year.
For the past five years the 2001-built, UT 745E design vessel has supported Hydros' subsea/ROV activities through a contract with Acergy. Farstad says: “This co-operation will continue through the period. Acergy has further options to hire the vessel after the end of the charter period to Hydro. Before commencing the 3 year period, the vessel's ROV-capacities will be upgraded.”