September 25, 2020

POSH Xanadu - Image Credit: POSH

POSH Xanadu – Image Credit: POSH

Brazilian oil firm Petrobras has awarded Singapore’s POSH two long term charters for the semi-submersible accommodation vessels POSH Arcadia and POSH Xanadu.

The offshore accommodation rigs will be used for maintenance and accommodation support for Petrobras’ platforms and floating production storage and offloading (“FPSO”) vessels in Brazil waters for approximately 3 years.

Petrobras will have an option to extend the contracts for a further 1.5 years for both vessels. 

This is POSH Xanadu’s third contract and POSH Arcadia’s first with Petrobras. The two accommodation units are designed for deep waters and harsh operating environments. They offer accommodation for 750 people, each.

Lee Keng Lin, Chief Executive Officer, POSH, said, “Our repeat wins with Petrobras is especially momentous amid such uncertain times. This further differentiates and solidifies our position within the offshore accommodation space, which remains a major part of our business.

“These charters will provide the stability to our business in the coming years as we continue to accelerate POSH’s transformation to become a future-ready, sustainable solutions provider for the global energy sector.”

The two offshore accommodation units are scheduled to begin operations with Petrobras at the start of 2021.

 POSH Xanadu – Image Credit: POSH

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