Fugro Extends Fleet Capacity

Fugro has placed an order for a new vessel (Geo Caribbean) with the Bergen Mekaniske Verksted (BMV) shipyard in Norway. The vessel will be owned by Fugro and will be delivered no later than October 2008.

The overall length of the vessel is 101 meters and it will be used for three dimensional (3D) seismic survey work and it will be equipped for towing a maximum number of 14 streamers for long offset acquisition (streamer length over 9 km).

The Geo Carribean has the same design as the previously announced vessels chartered by Fugro from E. Forland Shipowners; the Geo Celtic (seismic survey, available in May 2007) and the Fugro Saltire (ROV Subsea support, available in February 2008). The special design allows for future multiple purpose utilization of the vessel.

The vessel together with the seismic equipment involves a total investment of over € 100 million. This investment which is part of Fugro's earlier announced plan to increase and modernise its marine seismic capacity will be financed out of Fugro's own resources.