Bibby Offshore has shown renewed confidence in the North Sea by extending an exclusive charter for premier dive-support vessel Bibby Topaz.
The Aberdeen based subsea services firm announced that the ship, owned by Volstad Maritime, would be subject to a “long-term” extension to keep it in the region.
Bibby said the terms and conditions of the charter have been adjusted to reflect the current market environment, based on a more mutual sharing of risk and reward.
The charter extension will allow Bibby Offshore to maintain and grow its market share in the North Sea dive support market, the company said.
The Bibby Topaz has been a core part of Bibby Offshore’s fleet since its delivery in 2008.
The new contract sees the firm secure exclusive and uninterrupted access to the asset until December 31, 2019.
There are also options to extend the charter to the end of 2024.
Howard Woodcock, CEO at Bibby Offshore, said: “The Bibby Topaz has built a strong reputation with clients and is well-established as our premier DSV in the North Sea.
“We are delighted to have secured an extension to the charter, which will maintain our capacity in the North Sea over the next two and half years, and allow us to continue to deliver comprehensive support for clients in this region.”