Petrobras has extended its charter of PACC Offshore Services Holdings’ (POSH) floatel Posh Xanadu (built 2014) for another twelve months.
Under the terms of the contract, the semi-submersible accommodation vessel will continue to work for the Brazilian oil major in the Campos Basin.
The Posh Xanadu has been on charter to Petrobras for the past year under a contract initially worth $80.5m to the Singapore company.
That deal included an option for an additional twelve months that would increase the total value of the charter to about $144m.
However, Singapore-listed POSH did not disclose the value of the latest charter in its statement announcing the one year contract extension.
“We are delighted to announce the contract as it testifies to POSH Xanadu’s excellent performance and service,” said POSH chief executive Captain Gerald Seow.
“Despite facing adverse weather conditions during certain periods over the past year, she was able to achieve 100% operational uptime even when all other floatels in the area had disconnected.”
The 750-bed Posh Xanadu, which was built by China’s PaxOcean Engineering Zhoushan, is designed for deep waters and harsh operating environments.
