Siem vessels get more work with TotalEnergies in Brazil

TotalEnergies EP Brasil, a subsidiary of France’s energy giant TotalEnergies, has handed out new contracts for two platform supply vessels (PSVs) to Siem Offshore do Brasil, a subsidiary of Norway’s shipping company Siem Offshore.

The new contract for the PSV Siem Giant, which has been signed for three years, comes with additional options to expand the vessel’s work up to four more years, while the PSV Siem Atlas has won a nine-month contract that can be extended until the end of 2Q 2027. 

These two PSVs, which will be performing operations off the coast of Brazil, will kick off the work related to the new contracts in June 2024 in direct continuation of the current deals, originally signed in September 2020, after which a one-year option was exercised for both vessels.

Both Siem Atlas and Siem Giant are of an STX PSV 4700 design, with the former being built in 2013 and the latter in 2014.

In addition to these vessels, four more are in the company’s PSV fleet, which had operating revenues of $11.6 million and a 95% utilization in 4Q 2023, based on the firm’s financial report for the period.