Subsea 7 Extends Vessel Charter

Subsea 7 has been granted an extension of the charter for the multi-purpose support vessel Seisranger until August 2006 with further options to extend to 2009.

The Seisranger is owned by Ellen Forland Rederi, a private owner based in Bergen, Norway, and has been on charter to Subsea 7 for the past three years. The vessel is used by the Integrated Remote Technologies (IRT) division of Subsea 7 for annual platform and pipeline inspection programs for several operators including Shell and ConocoPhillips and to provide ROV and survey support on construction projects such as the forthcoming CNR Baobab development and will continue in this role.

Subsea 7's IRT Vice President, Ian Cobban commented, "The Seisranger has been an important part of the Subsea 7 fleet for the past few years and has built up a reputation as a highly capable vessel for conducting ROV intervention, diverless construction, inspection and survey operations. Extension of the charter through to 2006 and potentially beyond allows Subsea 7 to continue to offer this highly successful support vessel to clients on a long-term basis."