Petrobras to charter POSH accommodation vessel

Offshore staff

SINGAPORE – PACC Offshore Services Holdings Ltd. (POSH) has secured a charter contract worth $80.5 million for its semisubmersible accommodation vessel POSH XANADU for use by Petrobras to support its oil and gas production activities in the Campos basin.

Petrobras will charter the POSH XANADU for one year, beginning around December 2014, and has an option to extend the charter by another year. In the event the charter period is extended, the total contract value will be in excess of $144 million.

The POSH XANADU is a high-capacity and high-specification 750-berth DP-3 vessel. Facilities on board include conference rooms, client offices with workstations, workshops, warehousing, and two cranes of up to 300 tons safe working load.

When delivered by end 2014, together with its sister vessel, the POSH ARCADIA, POSH will operate the youngest high-berth accommodation vessel fleet.

05/19/14

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