A major strategic collaboration has emerged in the global offshore engineering sector: SBM Offshore and Solstad Offshore have formed a joint venture and signed a letter of intent with a selected shipyard to build a next-generation multi-purpose deepwater installation and construction vessel, set for delivery in the first half of 2029.
Under the JV structure, Solstad Offshore holds a 50.1% majority stake while SBM Offshore owns 49.9%. Solstad Shipping will serve as the dedicated ship manager, and SBM Offshore will charter the vessel for its own project requirements first. When not deployed on SBM's projects, the JV will have the flexibility to charter the vessel to third-party clients, maximizing asset utilization.
The new vessel is engineered based on the proven operational success of the Normand Installer, combining SBM Offshore's decades of expertise in floating facility design and installation with Solstad Offshore's industry-leading track record in offshore support vessel operations. Its optimized design enables seamless infrastructure installation across both shallow and deepwater environments, making it highly versatile for diverse offshore projects.
This strategic investment is a cornerstone of SBM Offshore's long-term growth strategy. The company emphasized that the new vessel will strengthen its end-to-end full lifecycle EPCIO service offering. By bringing more offshore installation work scopes in-house, SBM will significantly improve delivery reliability, reduce execution risks for its clients, and enhance the predictability of project schedules and costs—key differentiators in the competitive offshore market.
Beyond operational benefits, the collaboration aligns with both companies' commitment to advancing the sustainable blue economy. The vessel will primarily support the installation of critical ocean infrastructure, including FPSO units, which are central to global offshore energy production and the transition to lower-carbon energy sources.
This partnership not only expands Solstad Offshore's high-specification fleet but also solidifies the long-standing strategic relationship between two industry leaders, positioning them to capture growing demand for complex deepwater installation services worldwide.
SBMOffshore SolstadOffshore OffshoreInstallation FPSO DeepwaterEngineering MarineConstruction OffshoreEnergy BlueEconomy EPCIO
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