KS Energy Services Limited has secured a firm time charter contract for the newly constructed lift boat, KS Titan 1, for offshore wind power operations in the North Sea.

KS Energy, based in Singapore, shared that KS Titan 1 will be chartered to Siemens Wind Power for a firm period of 817 days until 31 December 2010, with renewal options extending to 2022. Presently, the KS Titan1 is in the process of being prepared for mobilisation from the Gulf of Mexico to the UK.

The lift boat will be utilised for offshore operations in the UK and Denmark for the installation of wind turbines as well as servicing and maintenance work. The contract value for the 817-days contract is US$ 43.9 million (S$63.0 million) plus substantial performance incentives.

The KS Titan1 will be managed by Atlantic Oilfield Services (AOS), a wholly-owned subsidiary of KS Energy. With the KS Titan1, AOS will now be managing two rigs and a lift boat in the North Sea from its offices in Amsterdam and Esbjerg. 

The two other rigs that are being managed by AOS in the North Sea are accommodation jack-up rigs 'Atlantic Rotterdam' and 'Safe Esbjerg', both operating for Maersk Oil offshore Denmark.

According to the company, the Titan design self-propelled lift boats can operate in water depths of up to 200 feet, have the ability to accommodate up to 50 crew and are equipped with two cranes, each with a lifting capacity of 180 metric tons.

The KS Titan 1 is owned by Casadilla Group Pte Ltd, a joint venture company between KS Energy Services Limited and Ezra Holdings Limited.