SBM and Solstad – Joint Venture

SBM Offshore and Solstad Offshore have formed a joint venture to order a newbuild multi-purpose deepwater installation and construction vessel, with delivery targeted for the first half of 2029.

The vessel will support the installation of ocean infrastructure, including FPSOs, and is designed for operations in both shallow and deepwater environments. The project builds on the long-standing cooperation between SBM and Solstad around the CSV Normand Installer, which has supported SBM’s offshore installation activities for years.

Under the structure, Solstad Offshore will hold 50.1% of the joint venture, while SBM Offshore will own 49.9%. Solstad will act as ship manager and SBM will charter the vessel for its own offshore projects. When not required by SBM, the vessel may be chartered to third parties.

The joint venture has already secured an initial 14-year charter agreement with SBM Offshore, guaranteeing minimum utilization of 270 days per year, with extension options that could add up to 11 additional years.

The selected shipyard has not yet been disclosed.

For Brazil, the announcement is strategically relevant. SBM remains one of the leading FPSO contractors active in the country, with exposure to major offshore developments and future deepwater projects. While no Brazilian assignment has been announced for the vessel, additional installation capacity could support SBM’s global FPSO pipeline, a portfolio in which Brazil continues to play a central role.