Awarded five-year contracts for two PSVs

Skudeneshavn, Norway, 08 December 2022 – Solstad Offshore ASA (Solstad Offshore, OSE: SOFF) today announces that its PSVs Normand Naley and Sea Frost have been awarded five-year contracts by Equinor UK Limited (Equinor).

Both contracts will run for five years from January 2023. The contracts include options for further extensions.

The Sea Frost, which has been on contract with Equinor since 2017, will be upgraded with a battery-hybrid system and shore power as part of the contract. The Normand Naley is already equipped with a battery-hybrid system and shore power.

“We have supported Equinor’s UK operations since 2016 and are proud to agree these new long-term contracts. With these contract awards, Solstad Offshore has three PSVs installed with battery-hybrid systems and shore power operating in the UK sector on a long-term basis. The three vessels, equal to approximately 15 percent of our UK fleet, will help reduce both fuel consumption, emissions and operating expenditure,” says Kenneth Lande, EVP and head of global AHTS & PSV segment at Solstad Offshore.

For further information, please contact:

Lars Peder Solstad, CEO, tel: + 47 91 31 85 85

Kjetil Ramstad, CFO, tel +47 90 75 94 89