CGG Veritas Extends Charter for Seismic Research Vessel

The Compagnie Generale de Geophysique-Veritas (CGGVeritas) has through its subsidiary Viking Maritime exercised its option to extend the charter for the seismic research vessel SR/V Veritas Viking II.

The extension is for a fixed period of six years beginning June 2007. As a part of the charter extension agreement, CGGVeritas has agreed to waive its option to purchase 49 percent of the vessel.

The Veritas Viking II was delivered in 1999, and prior to this extension agreement was on an 8-year fixed time charter to Veritas DGC now merged into CGGVeritas.

With this extension and two new contracts entered into for delivery in 2007, CGGVeritas will have five large modern seismic vessels owned by Eidesvik Shipping AS, a wholly owned subsidiary of Eidesvik Offshore ASA, and operated on a world-wide basis for seismic acquisition research.

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