Odjfell Says Deepsea Atlantic Construction on Schedule

Odfjell Invest has reached an important milestone achievement in the Deepsea Atlantic project. The launching of rig no. 1, Deepsea Atlantic, was reached in line with plan, confirming the project being on schedule for October 2008 delivery from the yard DSME.

Ketil Lenning, Chairman of Odfjell Invest, said: "We are fully in line with the scheduled progress for the Deepsea Atlantic project and remain confident with the completion of this project for October 2008 delivery."

The next and final milestone for construction activity is Delivery in October 2008. After delivery, the rig will be towed to Norwegian waters and commence a long term contract with StatoilHydro.

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