Solstad Offshore rakes in $60m worth of new deals

Norwegian vessel owner Solstad Offshore has won a total of 900 days of work in multiple new contracts and contract extensions worth $60m.

The company’s 2008-built CSV Normand Valiant has been awarded a 1.5-year firm contract with Petrobras in Brazil. The start of the contract is scheduled for February 2025 in direct continuation of the current contract.

The vessel has been working for the Brazilian state-owned firm since 2022 and the latest extension for the vessel was won in January this year. The deal for the vessel was supposed to end in February 2025.

Petrobras also extended the contract for the 2009-built AHTS Normand Sagaris. The company added another 120 days which will keep the vessel busy until March 2025 when the vessel will start on its previously announced three-year contract with the same client. The initial contract for the vessel was won in June this year.

The contract for the 2014-built AHTS Normand Sirius has been extended to August 2025, with an option to extend the contract for another 247 days, while a new 60-day contract has been entered into for the 2010-built AHTS Normand Saracen.

Both vessels are contracted to an undisclosed international energy company and will support drilling campaigns offshore Western Australia.

The first contract with the energy firm for the 2014-built Normand Sirius was for 160 days and it started in the second quarter of 2024, with options to extend the fixture by a further 250 days.

All four vessels are owned by Solstad Maritime Holding, in which Solstad Offshore holds a 27.3% stake.

On Thursday, Solstad Offshore revealed a new contract with an undisclosed client for the subsea construction vessel Normand Maximus. The contract has a firm term of one year that will keep the 2016-built unit fully committed to December 2026.