Normand Scorpion and Normand Saracen Secured for APAC Drilling Support

Solstad Maritime has been awarded firm contracts for the anchor handling tug supply vessels Normand Scorpion and Normand Saracen, with a combined duration of 475 days. The contracts are expected to commence in the second or third quarter of 2027 and include 400 days of options beyond the firm periods. Under the contracts, the vessels will perform drilling support activities in the Asia Pacific region, with the combined firm value estimated at the upper end of Solstad's substantial contract range.

 

Details of the Contracts

 

Solstad Maritime has secured new contracts. These are firm contracts. They cover two AHTS vessels. These are the Normand Scorpion and Normand Saracen. The combined duration is 475 days.

The contracts have a defined structure. They include options beyond the firm periods. These total 400 additional days. This provides potential extension. It reflects a flexible arrangement.

 

The Timeline

 

The contracts follow a clear timeline. They are expected to commence in 2027. This is the second or third quarter. This provides a defined start. It frames the deployment.

The options extend this potential. They could add further work. This is beyond the firm periods. This offers additional duration. It supports longer engagement.

 

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The Vessels' Role

 

The vessels will support drilling operations. They will perform drilling support activities. This is in the Asia Pacific region. Both are AHTS vessels. They suit this demanding work.

The vessels have specialised capabilities. AHTS vessels handle anchor work. They also provide supply support. This suits drilling operations. It reflects their versatility.

 

The Contract Value

 

The contracts have a defined value. Solstad describes it as substantial. This means between 10 and 30 million dollars. The firm value is at the upper end. This reflects a significant award.

The value provides revenue visibility. It covers the firm periods. Options could add further value. This supports the company's earnings. It reflects the contracts' worth.

 

Significance of the Award

 

The contracts strengthen Solstad's position. They secure work for two vessels. This is in the Asia Pacific region. It reflects regional demand. It supports the company's operations.

The contracts reflect drilling activity. The Asia Pacific supports offshore drilling. This drives demand for support vessels. The contracts meet this need. They position the vessels for continued work.