Announcement of awarded PSV contracts

Announcement of awarded PSV contracts

27.02.2018 09:42 am

Spirit Energy has awarded SolstadFarstad (SOFF) a contract for the two Platform Supply Vessels (PSV), Far Sitella (2013, PSV 08 CD Design) and Sea Titus (2014, STX 05-L CD Design).

The contract for Sea Titus will commence in March 2018 supporting the Paragon B391 drilling campaign for approximately one month followed by the Noble Hans Deul drilling campaign for approximately 12-13 months.

The contract for the Far Sitella will also commence in March 2018 and will support the drilling campaign for the Paragon B391 for a period of approximately 23 months.

In addition, Solstad Farstad has been awarded a contract for the PSV Sea Spider (2014, PX 105 Design), by an undisclosed client. This contract commences in February 2018 and the duration is for one well firm plus two optional wells. The firm period has an expected duration of 70 days.

All contracts are in the UK sector and the contracted vessels are currently trading the North Sea Spot Market.

“We are pleased to announce that we have succeeded to secure more term work for our PSV’s operating in UK. Our local staff and the crew onboard our vessels are working hard to ensure that we provide efficient and high quality services to our clients and it is good to see that we have positive results,” says Jon Are Gummedal, EVP – International Segment of Solstad Farstad ASA.

Skudeneshavn, February 27th 2018

Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Farstad ASA

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)