Oceanteam Signs Three Contracts for CLV Team Oman

Oceanteam Power & Umbilical has signed three contracts for work to be performed with Cable Lay Vessel (CLV) Team Oman.

The first contract is a 50-day term charter for power cable lay work to be performed in the Red Sea starting early February 2007. The second contract is with Gaz de France for pipeline burial to be performed at K17BP Dutch Sector.

The third is also for Gaz de France for pipeline burial to be performed at K12K. Both contracts will utilize the OceanJet 900 with an approximate duration of 30 days. The value of the three contracts is in excess of Euro 5 million.

The DP11 CLV Team Oman has been chartered from Nico Middle East long term (up to 5 years including options) by Oceanteam and was delivered by Owners on 15 January 2007 in Jebal Ali.

Oceanteam are currently conducting trials and a small upgrade to the lay equipment on the vessel before starting its first commitment.

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