A subsidiary of Polarcus has chartered “Vyacheslav Tikhonov” on commercial terms with the intention that the vessel works as a source vessel on the wide-azimuth program expected to continue into Q4, 2019.

The project was announced in June this year and it is expected to start in early August 2019.

Accordingly, Sovcomflot (SCF) has withdrawn its notice of redelivery and exercised an option to extend the bareboat charter period of hire for 2 years.

The charter now lasts until October 2021, with further options.

Both parties have redelivery options during the extended hire period with SCF’s first redelivery option being exercisable with effect from completion of the ‘charter-back’ for the wide-azimuth program.