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    Europe Must Cut Its Gas Demand Or Face Supply Challenges

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    Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution

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    BP begins gas production at West Nile Delta project

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    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

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    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

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    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

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Knutsen NYK Offshore Tankers orders two DP-2 shuttle tankers

Yuvraj_ong by Yuvraj_ong
September 29, 2014
in Europe, News, Pipelines & Transport
0

ABERDEEN, Scotland — Knutsen NYK Offshore Tankers has entered new long-term charters with a subsidiary of BG Group to provide shuttle tanker services in Brazil. The contract with BG will be serviced by two newbuild Suezmax-size DP-2 shuttle tanker to be constructed by Hyundai Heavy Industries in South Korea.

Upon delivery in 2016, the vessels will operate under long-term time-charters. If BG declares all extension options, the vessels could operate under the charters for up to a maximum of 20 years.

For a period of one year BG will also have the option to increase the number of shuttle tankers to three or four in total at similar terms. Pursuant to the omnibus agreement between Knutsen and KNOT Offshore Partners LP requiring KNOT to offer to KNOP vessels with contracts longer than five years, KNOP will have the option to acquire the vessels at fair market value from Knutsen following the charterer’s acceptance of the vessels.

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