Saipem Opts to Buy DLB Norce Endeavour

Saipem has decided to execute the purchase option for derrick lay barge ‘DLB Norce Endeavour’ from Solstad Offshore.

The acquisition follows a bareboat contract Solstad Offshore and Saipem Portugal entered into in December 2019, with option to buy.

The contract started on January 02, 2020 and had a firm duration until May 31, 2021 with an optional period of further five months.

DLB Norce Endeavour is a 146 meters long lay barge vessel built in 2010, equipped with a main crane of 1100 mt lift capacity, to be employed for pipelaying activities.

Financial details surrounding the deal have not been disclosed. Solstad Offshore said that the sale of the DLB Norce Endeavour should have a minor accounting effect.

Delivery of the vessel to Saipem is scheduled for April 2020.

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