Solstad Gets Three PSV Charter Agreements

Solstad Offshore ASA gains long-term charters for three of its platform supply vessels

Total E&P UK Limited and Elf Exploration UK Limited have signed agreements for hire of the platform supply vessels (PSV) “Normand Aurora”. The duration of the contract is firm for 5 years with further 2 x 1 year options.

EDT Offshore Egypt S.A.E has signed for hire of  Stand-By vessel “Normand Draupne ”. The duration of the contract is firm for 1 year with further 1 year option with commencement April 2012.

Finally, Statoil Petroleum AS has hired the platform supply vessel (PSV) “Normand Corona”. The duration of this contract is firm for 6 months with further 2 x 6 months option also with commencement April 2012

Total value of the owner's portion of the contracts is approx NOK 380-million

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