Solstad Offshore ASA has entered into a bareboat Contract with Saipem Portugal
Commercio Maritimo Limitada(Saipem Portugal), a subsidiary of Saipem S.p.A., for
the DLB Norce Endeavour. The contract will commence on the January 2[nd], 2020
and have a firm duration until May 31[st], 2021 with an optional period of
further 5 months.
As part of the bareboat Contract Saipem Portugal has the option, at its
discretion and subject to, among others, Saipem S.p.A.'s internal approvals, to
purchase the DLB Norce Endeavour.
DLB Norce Endeavour is a 146 meters length lay barge vessel built in 2010,
equipped with a main crane of 1100 mt lift capacity, to be employed for
pipelaying activities worldwide.
The commercial terms are confidential between the parties.
Skudeneshavn, December 23[rd], 2019
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18
Solstad Offshore ASA
www.solstad.com