Saipem Portugal Commercio Maritimo Limitada, the Portuguese subsidiary of the Italian oilfield services provider Saipem, has signed a deal with Solstad Offshore to hire DLB Norce Endeavour lay pipe barge, with an option to buy.
Under the agreement, the contract is expected to start January 2, 2020, and have a firm duration until May 31, 2021. Saipem will be able to extend the contract for a further five 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 the main crane of 1100 mt lift capacity, to be employed for pipelaying activities worldwide.
The commercial terms are confidential between the parties, said a press release.