Supply ships busy in Russian waters

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Norwegian supply ships that offer various services to the offshore oil industry have been busy in Russia’s Arctic waters this summer. It’s welcome business for supply ship owners that lost lots of business when the oil price collapse in 2014 dried up activity on the Norwegian Continental Shelf.

Several supply ship owners faced bankruptcy, and underwent all but forced mergers with rivals.

The Barents Observer reports that several have now won contracts tied to oil exploration activity carried out by international players in Russia’s Kara Sea, without, apparently, violating economic sanctions against Russia.

For the full story in the Barents Observer, click here (external link). staff