Norway's PSA Grants Consent to Use MSV Regalia on Visund

The Petroleum Safety Authority Norway (PSA) has granted its consent to Statoil for use of the mobile Multi-Service Vessel Regalia as a flotel on the Visund field.

The consent has been granted for the period February 20 - September 15, 2005.

The MSV Regalia will be dynamically positioned with a bridge connection to the Visund facility.

The plan is to expand the gas unit on Visund in order to increase gas injection capacity and facilitate gas transport to Kvitebjorn by October 1, 2005. This will take place while drilling activity is also maintained.

In this context, a flotel is needed in order to accommodate the necessary personnel.

The MSV Regalia is a semi-submersible facility of the "GVA 3000" type. It has 193 cabins and is operated by Prosafe Offshore Ltd.

The facility was most recently used as a flotel for Statoil at Troll A.