Norway’s Olympic Secures Five-Year Contract for CSOV

Norway’s Olympic has secured a five-year firm contract with Aker BP for the construction service operation vessel (CSOV) Olympic Notos.

The deal with options for another five years will see the 2024 Ulstein-built unit serve as a dedicated walk-to-work vessel at the unmanned production platform Munin in the Yggdrasil area from the fourth quarter of 2026, becoming the first Tier 1 CSOV to work long-term in oil & gas.

The vessel will, however, initially go on contract in early 2026 and be deployed in the hook-up phase of the Aker BP-operated Fenris platform in the summer.

“This contract brings Olympic’s total backlog across oil and gas and renewables to more than $500m,” said Stig Remøy, CEO of Olympic. “It’s a clear endorsement of our flexible fleet, our people, and our long-term strategy for sustainable offshore operations.”