Aker Yards to Build two PSV's for Siem Offshore

Aker Langsten, a company in the Aker Yards Group, and Siem Offshore Inc have entered into a contract to build two platform supply vessels (PSV's). The value of the newbuilding contract is approximately NOK 250 million.

"We are very pleased to have Siem Offshore as a new partner in this project. Hopefully this fruitful relationship will be the start of a future cooperation between the two companies" says Roy Reite, responsible for the Offshore Service Vessels business area in Aker Yards.

Mr Reite continues: "This contract also confirms the strong relationship we have with Vik Sandvik. Aker Langsten is currently completing the new Avant vessel, which recently won the "Ship of The Year award". Together we have been able to develop unique, innovative solutions for our customers."

The vessel will be 73.4 meters long, and 16.6 meters wide, and will have a maximum cargo capacity of 3 600 tons. The vessels are of Vik- Sandvik design VS 470 mk II, of which ten vessels have been built in the past. The hulls will be built in Romania. The contract includes a potential delivery of further vessels in the coming three years. Delivery is scheduled for the fourth quarter 2005.