Solstad Gets More Time with Creditors

Norwegian vessels owner and operator Solstad Offshore said it has secured extension with a number of its key creditors for the suspension and deferral of payments.

In December 2018 and April 2019, a number of the companies in the SOFF group entered into agreements for the suspension and deferral of payments until June 20, 2019.

According to Solstad, the company creditors have now agreed to an extension of the suspension until the expiry of October 31, 2019.

Albeit the negotiations for the restructuring of the SOFF group are progressing, more time is required to find a sustainable solution to the financial situation of the SOFF group, the company noted.

SOFF said it is experiencing continued support from its creditors and stakeholders in this process which is conducted in a co-operative manner with a view to find a consensus based overall solution.

It is acknowledged by all involved parties that securing contracts and operating the business in its ordinary course is a key priority, and the parties are acting accordingly.

Alongside the agreed Suspension extension, Solstad Invest 3 AS upholds its unilateral suspension of debt servicing towards its one creditor that did not agree to the initial Suspension.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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