Island Frontier’s contract completed

Island Frontier has finished off its last job as a well intervention vessel for Equinor on the Norwegian Continental shelf. Island Frontier marked the beginning for Island Offshore as a ship owner, and has been on contract with Equinor since 2006 – An era which has ended after 13 years of good and efficient service.

“We highly appreciate the effort our crew has made during all these years, and it is disappointing that we don’t succeed in extending the contract with Equinor. The vessel has contributed to a significant value creation for the customer through many years,” says Managing Director in Island Offshore, Tommy Walaunet.

Conferences with employee representatives have been held discussing the consequences for our employees.

«Due to the ended contract for Island Frontier and the market situation as a whole, we don’t see any other way out than to put the vessel into lay-up and execute staff reduction to adapt to operation and costs. It is very sad to let competent employees and good colleagues go, but today’s situation is unfortunately not temporary and does not qualify for temporary lay-offs on Island Frontier. Dismissal is the only option. It is a paradox that this happens now that the market is recovering,” says Walaunet.

«We have great ambitions for securing further work for Island Frontier, thus we look towards new operational areas for the vessel. This is expected to take some time though, and long term lay-up is expected”.

The scope of redundancies is not yet clarified.