Aker Yards to Build Sub Sea IMR Vessel

Aker Yards has signed a contract worth approximately NOK 480 million to build a Sub Sea IMR (inspection, maintenance and repair) Vessel for Østensjø Rederi AS. The vessel will be delivered summer 2007.

Main duties for the new vessel will be inspection, maintenance and repair (IMR), including tasks within ROV operations and light construction work. The vessel will be equipped with two hangars with a totally integrated module handling tower, skidding systems and Launch & Recovery systems for Work ROV's. All the main operations will take place inside the closed hangars.

Østensjø Rederi AS has been assigned a five years contract with 3 x 1 years option by DeepOcean AS and Statoil. Deep Ocean is in the process of being listed at the Oslo Stock Exchange.

The owner and chairman of the board of Østensjø Rederi Mr Johannes Østensjø states in a comment: "Aker Yards was chosen based on their excellent execution of their projects and their track record for delivering on time."

Roy Reite in charge of Aker Yards' Offshore & Specialized Vessels business area, says: " I am very pleased that Østensjø Rederi again has placed a newbuilding contract with Aker Yards. This contract confirms that the market for specialized vessels is continuing to develop positively." The last vessel delivered to Østensjø from Aker Yards was in 1997. Mr Reite continues: " This vessel is unique by the combination of its size, that the design, the owner and the builder is Norwegian and that it will be operating for Statoil."