The Norwegian based and Oslo Stock Exchange listed offshore tonnage provider Golden Energy Offshore Services AS (GEOS), has entered into contract with a Tier 1 international oil major for one year firm, plus option for an additional one year, on the 2016 built PSV “Energy Passion”.

In addition to this above contract GEOS also concluded with the same international oil major a contract for 6 months firm plus a 6 month option for the 2015 built PSV “Energy Paradise”.

GEOS said these two contracts are for operations in the North Sea with expected commencement between March/April 2024, and that the gross contract value for the firm period is $14m with an additional $15.8m for the optional charter period.

Per Ivar Fagervoll, chief executive of GEOS, said: “We are very pleased to secure these contracts for Energy Passion and Energy Paradise, which provides a solid backlog for GEOS. The awarded contracts underscore the company’s strong standing as a supplier of quality tonnage to Tier 1 clients. These contracts confirm the robustness of the current charter market, with fixed earnings yielding attractive payback periods of the newly acquired vessels.”