Solstad Offshore ASA and SBM Offshore have agreed to order a new-build multi-purpose deepwater installation and construction vessel through a newly established joint venture.

The vessel is planned for delivery in the first half of 2029. Under the joint venture structure, Solstad Offshore will own 50.1%, while SBM Offshore will hold 49.9%. Solstad Offshore will also act as ship manager.

The new project extends a cooperation that has continued for more than 20 years. The two companies have also jointly owned and operated CSV Normand Installer since 2006.

Lars Peder Solstad, CEO of Solstad Offshore ASA, said the vessel project is an important strategic step for Solstad Offshore. He said the agreement further develops the company’s long-standing partnership with SBM Offshore and builds on the proven performance of Normand Installer.

The vessel is expected to strengthen installation capacity for future offshore work, while continuing the partnership between the two offshore companies.