SKUDENESHAVN, Norway – Petrobras has awarded Solstad Offshore a three-year firm contract for the Brazilian-flagged construction support vessel Far Saga.
The program, in support of E&P activities offshore Brazil, will start during 3Q, with the vessel equipped with two work class ROVs from C-Innovation suited to operations down to 3,000 m (9,842 ft) water depth.
The Far Saga has operated off Brazil since 2014.
In addition, an unnamed company has contracted Solstad’s CSV Normand Energy (ex-Normand Seven) for a four to six-month program starting later in the current quarter.
Solstad Offshore has also reached agreement on a financial restructuring of the group with most of its secured finance providers.
It now plans to sell or scrap over time 37 of its older and less advanced support vessels, eventually operating a core fleet of around 90 vessels.