Subsea 7 has extended its charter of a Solstad Offshore vessel, following the news of a big contract win from BP.
The charter of the 6,300-dwt construction support vessel Normand Subsea (built 2009) has been extended by a further four years, plus two 12-month extension options.
"This is another evidence that the subsea maintenance activity is gradually starting to pick up again," Lars Peder Solstad, chief executive of Solstad Offshore, said in a filing Wednesday.
The vessel has been on charter to Subsea 7 since 2009 and has been employed with BP UK.
On Wednesday morning, BP Exploration confirmed that Normand Subsea has been deployed in a construction, inspection, repair and maintenance project in the northern North Sea area.
The five-year-long contract, which commenced in January, is worth between $150m and $300m, Subsea 7 said.
