SOFF construction vessel for Subsea 7

Solstad Offshore ASA (SOFF) in Norway has received a Letter of Intent from Subsea 7 for the hire of a large construction service vessel for a fixed period of six years with an option to extend his period by another 4 x 1 years. The commencement of the contract is during the summer of 2008.

SOFF will have a new vessel constructed for this contract for which the design is being developed in close cooperation between SOFF, Subsea 7 and Vik-Sandvik AS. This is the second such agreement entered between SOFF and Subsea 7