Solstad Offshore Hooks $70M in CSV Contracts with Petrobras

Norwegian offshore vessel owner Solstad Offshore has secured $70 million in new contracts and extensions for two of its subsea construction vessels (CSV) that will be employed offshore Brazil.

The new contract is for the CSV Normand Fortress with Brazilian state-run oil company Petrobras.

The contract has a duration of two years firm with possibility of two years extension. The vessel will provide accommodation services to support production activities on Brazilian continental shelf.

The contract is set to start in the second quarter of 2024, Solstad said.

In addition, the current contract with Petrobras for CSV Normand Valiant has been extended by six months.

With this extension, the firm duration of this contract is now firm until mid-February 2025.

The combined gross contract value is approximately $70 million (NOK 750 million).