SBM and Solstad to Build Deepwater Installation Vessel, Delivery in 2029

en.Wedoany.com Reported - SBM Offshore and Solstad Offshore have jointly established a joint venture to develop a new deepwater installation and construction vessel, aimed at supporting future floating production storage and offloading (FPSO) units and offshore infrastructure projects. The joint venture has signed a letter of intent with a selected shipyard, targeting delivery in the first half of 2029.

The new vessel will be designed for installation and construction activities in both shallow and deepwater environments, capable of supporting the deployment of offshore infrastructure, including FPSOs. The project builds on the existing partnership between the two companies through the Normand Installer vessel, combining SBM Offshore's offshore installation expertise with Solstad's maritime vessel operations experience.

SBM Offshore stated that the new vessel will enhance the company's engineering, procurement, construction, installation, and operation (EPCIO) capabilities, enabling deeper integration of offshore installation scopes. The company expects that this additional capacity will improve project execution, enhance delivery reliability, and reduce installation risks in future development projects.

The vessel will be held through a joint venture company, with Solstad Offshore holding a 50.1% stake and SBM Offshore holding a 49.9% stake. Solstad Shipping will serve as the vessel management company, while SBM Offshore will charter the vessel for its offshore projects. When the vessel is not used for SBM projects, it will also be available to third-party operators. This investment comes at a time of increasing global deepwater development and floating production projects, along with growing demand for offshore installation capacity.

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