SBM Offshore and Solstad Offshore have taken a new step in their strategic collaboration after announcing the creation of a joint venture aimed at developing a new-generation multipurpose deepwater installation and construction vessel. The initiative includes the signing of a letter of intent with a selected shipyard and anticipates the vessel’s delivery during the first half of 2029.
The new unit will be designed to support the installation of complex ocean infrastructure, including floating production, storage, and offloading (FPSO) platforms, one of the most important segments within current offshore energy projects.
A Deepwater Vessel Geared Towards FPSO Projects
According to the companies, the vessel will incorporate an optimized design to execute operations in both shallow and deepwater environments. The vessel will leverage the accumulated experience from the Normand Installer, considered a benchmark in specialized marine installation operations.
Furthermore, the project combines SBM Offshore’s engineering and offshore installation management capabilities with Solstad Offshore’s expertise in offshore support vessel operations. This integration aims to increase efficiency in the execution of complex projects and improve resource availability for future installation campaigns.
Increased Capacity for FPSO Projects and Ocean Infrastructure
The incorporation of the new vessel will enable SBM Offshore to strengthen its EPCIO offering, which covers engineering, procurement, construction, installation, and commissioning of offshore assets.
Likewise, the company expects to increase the integration of installation activities within its own projects, improving predictability of timelines and costs. The strategy also aims to reduce execution risks for clients and strengthen reliability in the delivery of marine infrastructure projects.
The growing demand for floating solutions for energy production and the expansion of deepwater projects have driven the need for vessels capable of performing increasingly complex tasks with higher standards of operational efficiency.
A Long-Term Vision Joint Venture
Ownership of the new asset will be held by a joint venture in which Solstad Offshore will control a 50.1% stake, while SBM Offshore will own the remaining 49.9%.
Additionally, Solstad Shipping will assume operational management of the vessel, and SBM Offshore will primarily employ it in its own projects. When the vessel is not assigned to company contracts, the joint venture may offer it to third parties within the international offshore market.
The initiative also aligns with SBM Offshore’s strategy to expand its presence in activities linked to the sustainable blue economy. The company, recognized for its leadership in deepwater ocean infrastructure and floating production solutions, seeks to strengthen an asset portfolio capable of supporting energy development with criteria of operational efficiency and emissions reduction.
Source: SBM Offshore
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