Solstad Offshore has secured a contract with Ocean Installer for a high capacity construction support vessel (CSV) Normand Vision.
The contract starts in 1Q and the firm and optional periods cover the majority of 2021, Solstad said on Thursday.
Built in 2014 by Vard, the Normand Vision is capable of carrying out installation of subsea structures , umbilicals, risers and flowlines.
The vessel has worked on a long-term charter for Ocean Installer most of the time since its delivery.
Normand Vision is a large subsea vessel with a length of 157 metres.
It comes equipped with a 3000t carousel, a 150t vertical lay spread system (VLS), a 400t AHC crane and launch system for ROVs.
In addition, it has two permanently installed work class ROV systems in the ROV hangar.
The overall cost for the vessel was approximately $250 million, including the VLS.
In 2012 Ocean Installer and Solstad placed a joint order for the Normand Vision, the ownership distribution being 70-30, respectively.
The agreement contained an option for Solstad to increase its share, and the companies agreed to exercise it in 2014.
That deal also put the vessel on an 8-year firm charter with Ocean Installer, with further options of 1+1 year.