Solstad Offshore Enters Three Charter Contracts

Solstad Offshore Enters Three Charter Contracts

Solstad Offshore ASA (SOFF) has entered into contracts for three of the company’s Platform Supply vessels ( PSV) . The total value of the firm part of the contracts is approximately NOK 170 million (approx. USD 29 million).

“Normand Arctic” is chartered to BG Norge Ltd for a period of 2 years firm, with an option for the charterer to extend the contract by 1 additional year. Commencement of this contract will be late May -13.

“Normand Skipper” is chartered to Halliburton, for well stimulation work, for a period of approximately 5 months. The Charterer has options to extend for further 5 months. The contract has recently commenced

“Normand Corona” is chartered to Shell Norway for a period of 4 months. The Charterer has an option to extend for further 2 months. Also this contact has recently commenced.

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Solstad, March 20, 2013