Solstad Awarded Contract by Subsea 7

Solstad Offshore has received a Letter of Intent from Subsea 7 for the hire of a large construction service vessel for a fixed period of six years. Furthermore, Subsea 7 has the option to hire the vessel for another 4 x 1 years. The commencement of the contract is during the summer of 2008.

SOFF will have a new vessel constructed for this contract. The vessel design is developed in close cooperation between Solstad, Subsea 7 and Vik- Sandvik AS.

The commercial terms between the parties are confidential, however it gives Solstad an acceptable return on the investment.

Solstad is a leading owner and operator of offshore construction service vessels and will, after the delivery of the new vessel, operate a total of 11 vessels within this segment. The Company is very pleased to enter into this agreement with Subsea 7, the second contract with Subsea 7 during a short period of time.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Field Specialist Wireline- Oklahoma City
Expertise: Wireline
Location: Oklahoma City, OK
 
Chemical Tech
Expertise: Field Service Tech|Umbilicals, Risers and Flowlines
Location: Midland, TX
 
Field Specialist Frac - Oklahoma City
Expertise: Field Service Tech
Location: Oklahoma City, OK
 
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours