Solstad Offshore Bags New PSV Contracts

Norwegian offshore service and supply ship shipping company Solstad Offshore has been awarded contracts for two platform supply vessels (PSVs) in Norway.

Solstad said in a press release that Wintershall Dea had awarded a 10-well firm plus options contract to support its West Mira rig drilling campaign. The contract duration is estimated to be 30 months.

Commencement of the contract will take  place in August/September 2019, and will be covered by the large PSVs Normand Falnes ((VS 485 MkII, built 2011) and Normand Naley (VS 485 MkII, built 2011).

Normand Falnes is currently being reactivated from layup and have also been secured by Vår Energi for a 1 well (Approximately 80 days) contract to support their Scarabeo 8 drilling operation in the Norwegian Sea; starting early June 2019.

As a result the vessel is fully committed up to commencement of the Wintershall DEA contract, said the release.

The latest contract awards contribute positively to the Solstad fleet backlog at rates that reflect improving market conditions for vessel Owners.