Marine construction contractor Ocean Installer, a Moreld subsidiary, has exercised an option to keep the 2014-built construction support vessel Normand Vision for one more year.
The extension will kick off in direct continuation of the current agreement. This extension secures operations for the Solstad Maritime-owned vessel through the end of 2027.
Additionally, the agreement has been amended to include another annual option. The contract now includes two annual options for the years 2028 and 2029.
Furthermore, the parties have included a mechanism that could allow for further extension of the contract until 2031.
“With this extension, Ocean Installer can sustain support for their current operations, and it positions them to take advantage of emerging opportunities across global energy markets,” said Geir Austigard, CEO of Moreld.
