Singapore: Solstad Provides Update on New Contracts

Solstad Offshore ASA (SOFF) has through its subsidiary Solstad Offshore Asia Pacific Ltd in Singapore been awarded several new contracts.

Nor Spring (AHTS / 2008 / 8.000 bhp) is contracted to Saipem Singapore for a firm period of 180 days with charterers option to extend for a further 120 days. Commencement of charter will be in September 2011.

The contract for Nor Chief (AHTS / 2008 / 10.800 bhp) has been extended with its current charterer, ENI, Egypt, for a period of 30 months. Commencement of the new charter will be mid August 2011.

For Nor Supporter (AHTS / 2005 / 8.000 bhp) Murphy Sarawak Oil Company Ltd, Malysia has declared their option to extend the contract for a further 12 months from end of August 2011.

Total value of the firm part of these contracts is approximately USD 22,5 mill.

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Source: Solstad Offshore, August 12, 2011;