Statoil has awarded Solstad Farstad a five-year contract to support it with one of its platform supply vessels on the Norwegian Continental Shelf.
Solstad Farstad, a company created through the merger Solstad Offshore, Farstad Shipping, and Deep Sea Supply, began trading on the Oslo Stock Exchange last week.
The company said on Tuesday that the vessel in question is the 2008-built PSV Far Searcher. According to Solstad Farstad, the contract will begin in September 2017.
Statoil has the option to extend the contract by additional five one-year extensions.
The commercial terms of the agreement are confidential.