Two offshore industry leaders, SBM Offshore and Solstad Offshore, have established a joint venture and signed a letter of intent with a shipyard for the construction of a new multi-purpose deepwater installation and construction vessel, with a target delivery date in the first half of 2029.
The vessel will be owned by a joint venture entity, with Solstad Offshore holding a 50.1% stake and SBM Offshore holding 49.9%. Solstad Shipping will serve as the ship manager, while SBM Offshore will charter the vessel for its own projects. When not required by SBM Offshore, the ship will also be available for charter to third parties.
This vessel is designed to support the installation of offshore infrastructure, including floating production storage and offloading units, and is engineered to operate in both shallow and deepwater environments.
According to the companies, the vessel's design was developed jointly by SBM Offshore, Solstad Offshore, and Salt Ship Design, drawing on operational experience from the "Normand Installer," a vessel the two companies have jointly owned and operated since 2006.
The joint venture has also signed an initial charter agreement with SBM Offshore for a 14-year term, guaranteeing a minimum of 270 days of annual utilization. SBM Offshore holds options to extend the charter within each year and to extend the agreement for up to an additional 11 years.
The vessel will be equipped for subsea construction and installation work in water depths up to 4,000 meters. Key specifications include a length of 132.6 meters, a width of 32 meters, accommodation for 100 personnel, a deadweight of approximately 11,200 tonnes, an installed power of 26,900 kilowatts, and a minimum bollard pull of 300 tonnes.
Installation equipment will feature a 400-tonne main crane, a 350-tonne A-frame, a deck skidding storage reel with a capacity exceeding 2,000 tonnes, a 500-tonne winch system, and two work-class remotely operated vehicles housed in a dedicated hangar.
SBM Offshore stated that the vessel will support its full lifecycle EPCIO (Engineering, Procurement, Construction, Installation, and Operation) services by integrating a broader scope of offshore installation work and enhancing project delivery reliability.
The companies also announced an extension of the existing framework agreement covering the "Normand Installer," enabling SBM Offshore to utilize that vessel until 2034.
Lars Peder Solstad, CEO of Solstad Offshore, commented that this project represents a significant strategic step for the company, deepening its long-standing partnership with SBM Offshore and extending their proven installation capabilities into the future, building on over two decades of collaboration and the excellent performance of the Normand Installer.
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