“Edda Freya” on assignment for Statoil

The ship, which was delivered to Østensjø Rederi by Kleven Verft on 25 May, has been chartered to DeepOcean in Haugesund. Its first assignment is to serve the Kristin and Heidrun platforms in the North Sea under a contract with Statoil. In the autumn, it will begin work for Repsol Norway in the Varg field.

Research project

Numerous Norwegian sub-contractors have been involved in the fitting out of the ship, providing everything from thrusters, propellers and cranes to navigation and communications equipment. The “Edda Freya” is also involved in a research project to identify new and safer offshore construction methods, including for heavy subsea module installation. The participants in the project, which is partly funded by the Research Council of Norway, include Marintek, Sintef IKT and Uni Research Polytec in addition to DeepOcean and Østensjø Rederi.

Productive cooperation

Export Credit Norway has issued a loan of USD 81.9 million to finance the “Edda Freya”. The loan, which is guaranteed by GIEK, has a maturity of 12 years. DNB and the Dutch NIBC Bank have provided a separate loan tranche totalling USD 35.1 million.

The borrower is West Supply VII Eier AS, Østensjø Rederi’s ship-owning subsidiary. “Cooperation with Export Credit Norway has been highly satisfactory. The company has been accommodating, understands the industry and has taken a constructive approach to collaboration,” says Østensjø Rederi CEO Håvard Framnes. For more information about the “Edda Freya”, see Østensjø Rederi’s website. 

This content was published before 1 July 2021 by GIEK or Eksportkreditt Norge.