SBM Offshore and Solstad Offshore have formed a joint venture that has entered into a letter of intent with a shipyard for the construction of a multi-purpose deepwater installation and construction vessel, with delivery targeted in the first half of 2029.
The vessel will be owned by a joint venture in which Solstad Offshore will hold a 50.1% stake and SBM Offshore 49.9%. Solstad Shipping will act as ship manager, while SBM Offshore will charter the vessel for its own projects. When not required for SBM Offshore projects, the vessel may be chartered to third parties.
The vessel is intended to support the installation of ocean infrastructure, including floating production, storage and offloading (FPSO) units, and is designed for operations in both shallow and deepwater environments.
According to the companies, the design was developed jointly by SBM Offshore, Solstad Offshore and Salt Ship Design, drawing on operational experience from the Normand Installer, which the two companies have jointly owned and operated since 2006.
The joint venture has also signed an initial 14-year charter agreement with SBM Offshore, securing minimum utilization of 270 days per year. SBM Offshore has options to extend the charter within each year and for up to 11 additional years.
The vessel will be equipped for subsea construction and installation work in water depths of up to 4,000 meters. Key specifications include a length of 132.6 meters, a beam of 32 meters, accommodation for 100 people, deadweight of approximately 11,200 tonnes, installed power of 26,900 kW and minimum bollard pull of 300 tonnes.
Installation equipment will include a 400-tonne main crane, a 350-tonne A-frame, an under-deck carousel with capacity exceeding 2,000 tonnes, a 500-tonne winch system and two work-class remotely operated vehicles housed in dedicated hangars.
SBM Offshore said the vessel would support its full lifecycle EPCIO (Engineering, Procurement, Construction, Installation and Operations) offering by integrating additional offshore installation work scopes and improving project delivery reliability.
The companies also said the existing framework agreement covering the Normand Installer has been extended, giving SBM Offshore access to the vessel until 2034.
“This project represents an important strategic step for Solstad Offshore. Together with SBM Offshore, we are further developing a partnership that has evolved over more than two decades, building on the proven performance of Normand Installer and extending our installation capabilities into the future,” said Lars Peder Solstad, CEO of Solstad Offshore.
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