Solstad Offshore Scoops $240M in Contracts with Petrobras

Norwegian offshore vessel owner Solstad Offshore has secured multiple contracts with Petrobras, whose combined value is approximately $240 million (NOK 2.6 billion).

The contracts are scheduled to start in the second half of 2024 and first half of 2025.

Petrobras has contracted the construction support vessel (CSV) Normand Poseidon and two anchor handling tug supply (AHTS) vessels Normand Sagaris and Normand Ferking, all owned by Solstad Maritime, in which Solstad Offshore holds a 31.6% ownership share.

The Normand Poseidon has been awarded a four-year firm contract scheduled to commence in the third quarter of 2024 in continuation of its current charter with Petrobras.

The two AHTS vessels have each been awarded a three-year firm contract for anchor-handling duties.

Normand Sagaris is scheduled to start the new contract in the fourth quarter of 2024 or the first in 2025 and, additionally, its current contract with Petrobras has been extended until November 2024.

Normand Ferking will begin its contract in the second quarter of 2025.

“We are very pleased to announce these contract awards from Petrobras in Brazil. We have worked with Petrobras since 1996 and Solstad is well positioned to take on more work in the buoyant Brazilian offshore market,” said Lars Peder Solstad, CEO at Solstad Offshore.