Subsea 7 exercised the option for the 14,161-gt Normand Seven (built 2007) for one year starting from September 2015.

This is the first of a total of five yearly options for the vessel.

According to the company’s last quarterly report, almost half of its construction vessels are working under firm long-term contracts or under deals which include options.

Only four of Solstad’s 20 construction vessels are not on long-term deals.