Solstad Secures Several New Contracts for Its Vessels

Solstad Offshore ASA (SOFF) announced today that the company has entered into several new contracts for its offshore support vessels.

SOFF has extended its contract with BG Tunisia for hire of SOFF’s anchor handling vessel (AHTS) “Nor Star”. The duration of the new contract is 2 years firm and with one yearly option.

SOFF has extended its contract with Efadco Petrolcum Services Co for hire of SOFF’s AHTS “Nor Chief”. The duration of the new contract is 8 months firm starting January 2014, and with one yearly option.

The new contracts will commence in direct extension on the current charter agreement.

Furthermore Anadarko has declared a 3 months option for rental of AHTS Nor Tigerfish and «Nor Captain» is contracted to Benthic Geotech Pty for a shorter period in Australia, both commencing during August 2013.

Total value of the firm part of these contracts is approximately NOK 135 mill.

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Press Release, July 23, 2013