Solstad Offshore Nets $60M in New Vessel Contracts

Normand Sagaris AHTS (Credit: Solstad Offshore)

Norwegian offshore vessel owner Solstad Offshore has secured multiple new contracts and contract extensions, whose combined value is $60 million.

Solstad secured one new contract, and one contract extension from Petrobras, for work offshore Brazil.

Namely, Petrobras awarded an 18-month firm contract for the construction support vessel (CSV) Normand Valiant. The start of the contract is scheduled for February 2025 in direct continuation of current contract.

Solastad also secured a contract extension for its anchor handling tug supply (AHTS) vessel Normand Sagaris, whereby current contract with Petrobras in Brazil has been extended for 120 days until March 2025, when the vessel will start on its earlier announced three-year contract with the same client.

Aside from Petrobras contracts, Solstad also secured an extension for the AHTS Normand Sirius until August 2025, with an option to extend the contract with another 247 days, while a new 60 days contract has been entered into for the AHTS Normand Saracen.

Both vessels will support drilling campaigns offshore Western Australia.

Normand Valiant, Normand Sagaris, Normand Saracen and Normand Sirius are owned by Solstad Maritime Holding, in which Solstad Offshore ASA holds 27.3%.