Solstad Maritime (SOMA) has strengthened its presence in the Asia-Pacific (APAC) region by signing new contracts for two oil tankers. These contracts include two tankers named Normand Scorpion and Normand Saracen, which will be used for drilling support activities for a duration of 475 days.
Contract Details
These two sister tankers are 87.4 meters long and 21 meters wide, launched in 2009 and 2010 respectively. Solstad Maritime has announced that these tankers will be engaged in drilling support activities in the APAC region, but the name of the contracting company has not yet been disclosed.
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The mentioned contracts are likely to be executed in the second or third quarter of 2027 and include 400 days of additional options beyond the main periods. The total value of these contracts is estimated to be between $10 and $30 million, and SOMA expects to approach the upper end of this range.
Background and Implications
These contracts were signed one month after Solstad Maritime received a Letter of Intent (LoI) for a Construction Support Vessel (CSV) in West Africa. This indicates a strategic expansion of the company's activities in international markets and strengthens exchanges in key sectors of the oil and gas industry.
Through these actions, Solstad Maritime aims to increase its operational capacity in international markets and strengthen its position against competitors. These contracts will not only help increase the company's revenue but may also lead to job creation and strengthen the supply chain in the APAC region.
