Announcment of awarded PSV contract Impex Australia

INPEX Australia has awarded Solstad Farstad ASA (SOFF) two contracts for the provision of vessels, Far Swan (2006, VS 470 MK II Design) and Sea Tortuga (2014, STX 05-L CD Design).
The contract for Sea Tortuga will commence during April 2018 for a period of 5 months firm, with a further 3 x 1 month options.  The Contract for Far Swan commenced on the 4th April 2018 for 1 month firm, followed by 5 x 1 month options.  Both vessels will operate in Australian waters on the Ichthys LNG Project.
“We are pleased to announce that we have succeeded in securing contracts with INPEX Australia, one of our key clients in Australia.  The addition of the Sea Tortuga and Far Swan supplements SolstadFarstad’s participation on the Ichthys LNG Project, with the Far Scorpion and Far Sword already working on long term contracts for INPEX in Australia” says Kenneth Lande, EVP - Solstad Farstad ASA.
Skudeneshavn, April 6th, 2018

Lars Peder Solstad CEO, at +47 91 31 85 85.
Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Farstad ASA
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)


About Us

Philosophy, Objectives and StrategiesSolstad Offshore ASA’s (SOFF) philosophy is to run a profitable and integrated shipping company with high specification vessels in its market segment, using owned or chartered vessels. The core business is to offer services to petroleum related offshore activities.The Company aims to be a significant player and offer a wide range of services based on high quality vessels, equipment and maritime personnel with extensive experience. In the North Sea the aim remains to be one of the heavy weights in the industry, and internationally, a major player in deep waters, subsea- and construction related activities. Based on extensive market knowledge and maritime experience within the offshore industry, SOFF will continuously seek for profitable investments in areas closely related to the core business. The Company continues to focus on Health, Safety and Environment (HSE) as well as profitability and aims to meet the targets set in these areas. The most important target within HSE is to avoid injury to personnel and equipment, and any uncontrolled spillage from the vessels. SOFF’s strategy is to be customer-focused and deliver high quality services in accordance with customer demands and furthermore to actively develop services in close co-operation with existing and new customers. In general, the Company manages the total operation of the vessels including freight, crewing and technical management. The Company will evaluate where it is possible to operate cost effective operations with an optimal return on capital employed, in co-operation with suppliers and clients, particularly with a view to long-term strategic co-operations. This co-operation is important with regards to both risk and capital injection.