The company has entered into a contract for the CSV “Normand Pioneer” (1999, CSV, 286t BP) with “Queiroz Galvão Exploração e Produção S.A in Brazil.
The contract has a duration of two years firm and in addition charterer holds two yearly options. The contract will commence in 1Q 2019 and shall support production at the “Atlanta Field” in Santos Basin. “Normand Pioneer” will replace the AHTS “Far Sagaris”, who presently have this position, when her firm contract expires in 1Q 2019.
In addition, Equinor Brazil has confirmed additional 6 months extension of the contracts for both PSV Far Scotsman (2012, PSV 08 CD, 4000 DWT) and PSV Far Serenade (2009, UT 751 CD, 5950 DWT). These vessels will keep supporting Equinor Brazil’s portfolio activities.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/12112018/solstad-offshore-new-contracts-in-brazil/
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Part of the company's 10-year plan includes a free cash flow of approximately US$50 billion based on a real WTI price of US$50/bbl and annual capital expenditures averaging less than US$7 billion over the decade.