Siem Offshore Enters 3-Year PSV Contract with StatoilHydro



Siem Offshore Inc and StatoilHydro have entered into a firm three year contract for the mid-size PSV '"Siddis Skipper'". The vessel, 51% owned by Siem Offshore, will be upgraded to a DP2 vessel and perform standby rescue and general support duties. The contract value is approximately NOK 170 million and the charter will commence in first quarter 2008.

Siem Offshore Inc and StatoilHydro have entered into a firm three year contract for the mid-size PSV '"Siddis Skipper'". The vessel, 51% owned by Siem Offshore, will be upgraded to a DP2 vessel and perform standby rescue and general support duties. The contract value is approximately NOK 170 million and the charter will commence in first quarter 2008.

Siem Offshore is pleased to have entered into this contract and look forward to strengthening the long-term relationship with StatoilHydro.

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