SBM Offshore and Solstad Offshore have formed a joint venture, which has entered into a Letter of Intent with a selected shipyard to order a new-build next-generation multi-purpose deepwater installation and construction vessel. The new vessel is targeted for delivery in the first half of 2029.

The new vessel will support the installation of ocean infrastructure, including FPSOs, and reflects the Company’s ambition that ocean infrastructure will contribute to drive a sustainable blue economy.

The new installation vessel builds on the operational success of Normand Installer and the existing partnership combining SBM Offshore’s installation expertise with Solstad Offshore’s track-record of offshore support vessel operations. The vessel features an optimized design to install ocean infrastructure in shallow and deepwater.

Furthermore, a new vessel will enable us to maintain our full lifecycle EPCIO offering and create additional competitive advantages through improved delivery reliability and the integration of more offshore installation work scopes. This will in turn reduce execution risk for our clients and improve predictability of our EPCIO schedule and cost.

The new vessel will be owned by a joint venture company in which SBM Offshore holds a 49.9% interest and Solstad Offshore holds a 50.1% interest. Solstad Shipping will act as ship manager, while SBM Offshore will charter the vessel for its own projects. When not required for SBM Offshore installation projects, the joint venture may charter the vessel to third parties.

About SBM Offshore

SBM Offshore is a global leader in deepwater ocean infrastructure, delivering floating production solutions across the full asset lifecycle—from design and construction to installation and operation. Supported by a global team of more than 8,000 professionals, the Company operates a long‑term, asset‑backed business model that delivers high‑availability assets and predictable cash flows. SBM Offshore combines engineering expertise, operational reliability, and selective innovation to support safe, efficient, and lower‑carbon energy production, while extending its capabilities into new opportunities across the blue economy.

About Solstad Offshore ASA

The company own and operate a large fleet of offshore vessels, serving clients all over the world. Via the Service segment, the company offers a comprehensive range of services on dayrate basis to its clients, including ROV systems, survey, project manning delivery, engineering, and gangways. Solstad Services has significantly expanded over the years and continues to invest in new technologies and equipment to enhance its offerings.