Wintershall Awards GSP N. Sea Pipelay Work

Grup Servicii Petroliere SA (GSP) has been awarded a new contract in the North Sea, for pipelay services. This is the second contract awarded to our company by Wintershall Noordzee B.V.

The pipelay contract is for GSP Falcon, the DNV class pipelay vessel which will carry out the installation of a 10 inch diameter 19 miles (30 kilometers) offshore pipeline in the Dutch sector.

GSP Falcon is expected to mobilize to the North Sea in June 2012 and, after the completion of the prelay survey, the vessel will carry out the pipelay operations. The pipeline will reroute the production from the existing Q4-C platform and will connect subsea to the 10 inch pipeline which currently connects the Q8-A platform to IJmuiden.

Stuart Oakley, GSP's CEO, "These recently signed contracts mark the arrival of GSP in the North Sea market, in addition to our existing markets of the Black Sea, the Mediterranean, the Russian Federation and Mexico. Working from our established offices in Rotterdam and Aberdeen we anticipate further growth of our share of this market, and plan to bring additional assets to meet the North Sea demand."

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