Vard clinches subsea contract for Farstad Shipping

Delivery is scheduled in 4Q16.

Vard Holdings has secured a contract for the design and construction of one Offshore Subsea Construction Vessel for Farstad Shipping.

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

It is arranged for two 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 4Q 2016