SOFF Signs New Contract for DLB Norce Endeavour

Solstad Offshore ASA (SOFF), through its wholly owned subsidiary Norce Offshore Pte Ltd, has signed a contract with Chevron Offshore (Thailand) Ltd, Chevron Thailand Exploration and Production Ltd and Chevron Pattani Ltd  (together Chevron) in Thailand utilising its DLB “Norce Endeavour” for their annual campaigns.

DLB “Norce Endeavour” will install multiple new wellhead platforms for Chevron in the Gulf of Thailand. The contract is firm for the 2014 campaign, with options for the 2015 and 2016 campaigns.

Including mobilisation, demobilisation and transit the estimated annual utilisation of the Norce Endeavour will be in the range to 60 – 100 days depending on the number of platforms to be installed.

SOFF will provide project management, engineering, procurement and logistics to support the DLB installation and construction scope of work through its “DLB Marine Projects group” in the Singapore office.

The contract value is confidential among the parties.

Since October 2012 DLB “Norce Endeavour” has been working for Saipem Leighton Consortium under contract to Leighton Contractors on the Gorgon LNG Jetty and Marine Structures in West Australia. Firm period is up to December 2013  but with Charter’s options to extend.

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SOFF, September 18, 2013