Norwegian offshore vessel owner Solstad Maritime has entered into a contract with marine services provider DeepOcean for the use of one of its construction support vessels, the Normand Ocean.
The agreement covers a three-year firm period with two optional one-year extensions and will commence in the first quarter of 2027.
Back in June 2024, Solstad announced a five-year contract with Prysmian for the construction support vessel Normand Ocean. A different Normand Ocean unit from Solstad’s fleet will be allocated to that project.
As a result, both Normand Ocean vessels will have long-term commitments with major clients throughout the next decade.
Solstad did not disclose the financial terms of the new agreement, but the deal is described as very large, with an estimated value between $50 million and $100 million.
Additionally, on Thursday, DeepOcean signed a contract with Equinor for subsea construction and installation work under the Snorre gas import and export project. Offshore execution is scheduled for 2026.
The work forms part of Equinor’s broader Snorre Expansion Project, aimed at extending the operational life of the Snorre oil and gas field in the Tampen area of the North Sea beyond 2040.
