Solstad Offshore ASA (SOFF) has signed a contract with Ocean Installer AS (OI.II) for hire of SOFF’s offshore construction vessel (CSV) “Normand Mermaid”.
The duration of the contract is firm for 5 years with further 5 x 1 year option and it commences on the 1st March 2013.
The contract value is confidential between the parties, but gives SOFF an acceptable return on its investment.
“Normand Mermaid” is a medium sized CSV built in 2002. The vessel is well suited for subsea construction work in both deep and shallow waters.
Ocean Installer is a subsea construction company based in Stavanger, Norway. It is 100% owned by HitecVision.
[mappress] Subsea World News Staff , March 30, 2012; Image: Solstad