Fugro Expands Seismic Fleet

Fugro has signed a long term charter agreement with E. Forland Shipowners for a new-build 3-D seismic vessel (Geo Celtic) that will be ready for work by mid 2007. The deck design of the vessel is developed to meet Fugro's specification to accommodate to be ordered new seismic equipment which incorporates the latest technology (a.o. suitable for 4-D). All seismic equipment on the Geo Celtic will be Fugro owned.

Together with the earlier announced long term charter of the Geo Atlantic (ex Polar King), which vessel will be available as of May 2006 after it has been converted, this is an important further step for Fugro to achieve the modernisation of the fleet and to reach the intended capacity of approximately eight vessels for marine seismic work.

At present, Fugro has nine seismic vessels in operation, of which three in joint venture with Exploration Resources and six owned or on charter.