Contracts for CSV’s Far Saga and Normand Energy

Solstad Offshore ASA (“SOFF”) is pleased to announce that the Brazilian flagged CSV, Far Saga, has been awarded a contract with Petróleo Brasileiro S.A. (“Petrobras”) for a period of 3 years firm.

Far Saga will be equipped with two Work Class ROVs from C-Innovation suitable for operating to 3.000m water depth. The vessel will keep supporting exploration and production activities in Brazilian continental shelf. Commencement of the Contract shall take place during 3Q 2020.

Far Saga has been operating in Brazil since 2014.

In addition, the CSV Normand Energy (ex. Normand Seven), has been awarded a contract with an undisclosed client. Normand Energy will be mobilized from a European port and the contract will commence in late 2Q 2020 with a duration of 4-6 months.

Skudeneshavn, May 11th, 2020

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

Solstad Offshore ASA