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2021-02-17

Solstad Offshore ASA: Contract award for Normand Cutter

Solstad Offshore ASA ("Solstad") is pleased to announce a contract for the CSV Normand Cutter with Global Marine Group ("GMG"). Commencement of the contract is in March 2021, in direct continuation of current charter with GMG. Firm duration of the contract is 120 days plus 80 days options thereafter. In addition, GMG has the option to extend the contract for up to 200 days in 2022, exercisable by August 1st, 2021.

Global Offshore, part of the Global Marine Group, will utilise the Normand Cutter on their cable installation, trenching, maintenance, and repair projects both within the renewable energy and oil & gas markets.

Mike Daniel, Managing Director at Global Offshore, said, "We have been utilising the Normand Cutter alongside her sister vessel, the Normand Clipper, at Danish Kriegers Flak offshore wind farm. We're pleased to be able to agree a contract with Solstad which enables us to continue utilising this versatile vessel on our up and coming 2021 projects."

Skudeneshavn, February 17th, 2021

Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA
www.solstad.com

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