Odim Wins Siem Contract

Odim ASA has been awarded a contract by Siem Offshore Inc. to supply one automated handling system for remotely- operated vehicles (ROV). Odim considers the contract as strategically important. The contract is worth some NOK 11 million.

"It seems like Odim's Launch and Recovery system (ODIM LARS) is about to be established as an industry standard included in the early design phase of subsea vessels. Yet another new customer choosing Odim's ROV handling systems confirms this," said Jogeir Romestrand, Odim's CEO.

Siem Offshore is a new customer for Odim, and after receiving this order Odim has received orders of a total of 16 such systems. The system for Siem Offshore is due to be delivered in the last quarter of 2007.

Odim LARS is an automated handling system designed to handle equipment which will be used in water depths down to 4,000 meters, and to be operated at significant waves of up to 4.5 meters height.

"This means Odim LARS can be operated in higher waves and tougher weather conditions than our competitor`s equipment, adding many working days each year for the subsea vessel, thereby increasing our customers profitability," commented Romestrand.

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