New long term contract with Petrobras

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Solstad Offshore ASA (SOFF) has entered into a new long term contract with Petrobras for the AHTS «Normand Drott».

The new contract will commence in November 2013 after a scheduled drydocking. The duration of the contract is 4 years firm and has a value of about NOK 330 mill.

Solstad Offshore now has a total of 9 vessels in operation in Brazilian waters, including Normand Drott (photo) that has been working for Petrobras since 2009.

In April this year Solstad Offshore announced the company was awarded two new contracts by Petrobras for hire of the PSVs “Normand Vibran” and “Nordmand Trym”.

The duration of these contracts are 4 years each. Petrobras have options to extend the contracts with further 4 years, but at a rate to be agreed. In addition, the present contracts the vessels have with Petrobras, will be extended with about 120 days each. Giving a total new firm contractperiod of 4 years and 4 months per vessel.

The combined value of the contracts is approximately Nok 500 mill

The Solstad offshore (SOFF) fleet consists of 50 fully owned/jointly owned and leased vessels and 2 newbuilds (to be delivered 2014). 42 of the vessels are operated from the main office in Skudeneshavn and the branch offices in Aberdeen and Brazil.
SOFF operates in 3 segments of the market, operating platform supply vessels (PSV), anchorhandling vessels (AHTS) and construction  service vessels (CSV). SOFF has during the last years increased its focus on the construction service market providing vessels and maritime competence for projects in unsheltered and deep waters.

 

Source: Solstad Offshore

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