Vard wins contract for an offshore subsea construction vessel for Farstad

Offshore and specialised vessels designer and shipbuilder, Vard Holdings Limited (Vard), announced on Wednesday that it has secured a contract for the design and construction of an offshore subsea construction vessel (OSCV) for Farstad Shipping (Farstad).

The vessel will be of VARD 3 17 design, with a total length of 98 metres and a beam of 21.5m, and has been developed especially for subsea and IMR operations.

It is arranged for two ROVs (Remote Operating Vehicles) and features a 150 ton active heave compensated offshore crane. The vessel was designed by Vard Design in Ålesund, Norway, in close cooperation with Farstad and Technip.

Farstad has been awarded a five-year framework agreement by Technip Norge for delivery of ROV support operations, light construction work, IMR and other subsea related activities, which will be fulfilled with this newbuild vessel.

Delivery is scheduled from Vard Vung Tau in Vietnam, in Q4 2016.

Vard CEO and executive director Roy Reite said: "We appreciate the long-term relationship we have with Farstad, and this cooperation has once again resulted in a new and innovative project."