Norway-based Siem Offshore has entered into a letter of intent with Petrobras Oil & Gas Turkey for two of its mid-sized platform supply vehicles.
The letter of intent (LoI) is for a charter period of approximately two years with one-year option for each of the platform supply vehicles (PSVs).
The area of operation will be Turkish Black Sea sector and the scope of work is to perform logistical services to support the fifth-generation semi-submersible drilling unit, Leiv Eriksson.
The contract is scheduled to commence in fourth quarter of 2009, and the contract value for Siem Offshore's scope of work is approximately $25 million for the firm period.