Golden Energy Offshore Services (GEOS) has signed two new charter contracts for one of its PSV vessels. These contracts include the use of the Energy Swan vessel, which was built in 2005, and the details of these contracts have recently been released.
Contract Details
The first contract pertains to the Energy Swan vessel, which includes a fixed period of about one month with additional options, and is expected to commence in October 2026. This contract is designated for unknown international charterers and aims to provide marine services.
The second contract is also for employment on oil rigs off the coast of Norway, with a fixed period estimated at about 290 days, with options for extension for nearly another 500 days. The start of this contract is anticipated to be in January 2027.
Economic Value of the Contracts
The estimated combined value of these two contracts is about $8.7 million. If all options are exercised, the total value of these contracts will increase to approximately $23.5 million. Additionally, the remaining contract value for the Energy Pace, Energy Paradise, and Energy Swan vessels is expected to reach about $17.9 million by October 1, 2026.
If all remaining options under these contracts are executed, the total remaining contract value will increase to approximately $42.2 million. These contracts represent the growth and expansion of Golden Energy Offshore's activities in the maritime industry and could have a significant impact on the company's revenue and profitability.
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