Solstad Offshore Charters its PSV Normand Vester to Petrobras (Brazil)

March 8, 2011

Solstad Offshore ASA (SOFF) has recently entered into a charter agreement for the PSV “Normand Vester” with Petrobras for a period of 4 years firm plus options.

Commencement of the contract is expected to be late 2Q 2011. The value of firm part the contract is approx USD 44 million.

SOFF’s activities are aimed 100% towards the offshore petroleum industry. Most of the fleet of vessels is equipped to carry out projects well above the traditional supply and anchor handling services. In addition to strong international growth, the Company has focused on offering Construction Service Vessels (CSV) and equipment for use in connection with offshore installations, including installing, monitoring and maintenance of sub sea systems. Simultaneously, the Company has expanded and modernized its tonnage of Anchor Handling vessels (AHTS), particularly for use in deep waters. Currently approx. 1300 people are employed by the Solstad group.

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Source:DETNOR, March 8, 2011;