Solstad Offshore ASA (SOFF) has finalized a four-year contract with Petróleo Brasileiro S.A. (Petrobras) for the construction support vessel (CSV) Normand Flower, owned by Solstad Maritime ASA (SOMA), according to the company's release.
The announcement follows a stock exchange notice dated April 30, 2025, which reported the contract award subject to board approval.
Solstad Offshore confirmed that the approval has been granted, and the contract is now signed.
The contract, valued at approximately USD 115 million excluding remotely operated vehicle (ROV) services, will commence in January 2026.
The Normand Flower will operate under a bareboat charter agreement from SOMA to SOFF, with SOFF serving as the contract holder with Petrobras.
This contract is part of a series of awards Solstad Offshore has secured with Petrobras in 2025.
On April 30, 2025, the company announced contracts for two anchor handling tug supply (AHTS) vessels, later identified as Normand Sigma and Normand Sirius, also owned by SOMA, with a combined gross value of approximately USD 210 million.
These vessels are set to begin operations in the first quarter of 2026.
Additionally, a four-year contract for the AHTS Normand Turquesa was announced on May 6, 2025, with operations starting in February 2026.
The Brazilian offshore market remains active, with Petrobras recently awarding exploration rights for 13 blocks in the Foz do Amazonas and Pelotas basins during Brazil’s 5th Permanent Concession Offer Cycle on June 17, 2025.
The state-owned company plans to commission 52 vessels by the end of 2026, investing 29 billion reais (USD 5.12 billion), according to a statement by Petrobras CEO Magda Chambriard on May 29, 2025.
Solstad Offshore ASA is a global provider of offshore service vessels, primarily serving the oil and gas industry. The company operates a fleet of anchor handling tug supply (AHTS), construction support vessels (CSV), and platform supply vessels (PSV). With offices in Norway, Brazil, Singapore, the United Kingdom, Australia, and the Philippines, Solstad Offshore supports operations across Europe, Brazil, Australia, and Asia. The company holds a 27.3% stake in Solstad Maritime ASA and reported strong vessel utilization in Q1 2025.
Established in 1953 and headquartered in Rio de Janeiro, Brazil, Petrobras is a state-controlled multinational corporation specializing in the exploration, production, refining, and transportation of oil and natural gas. As one of the world’s leading deepwater exploration companies, Petrobras operates extensively in Brazil’s offshore basins, including the Foz do Amazonas, Santos, and Pelotas basins.