Eidesvik Wins PSV Contract from Total

The letter of Intent is for a firm period of 3 years from 2Q 2008 and Total has additional options to extend the charter period with 2 x 1 years.

Contract value for the firm period is approx. NOK 164 Mill.

This will be the third natural gas fuelled cargo vessel (PSV) for Eidesvik Offshore ASA. Total shows by entering into this Letter of Intent with Eidesvik, initiative and responsibility in contributing to meet the future demands for reduction in emission on the Norwegian continental shelf. Environmental gains are NOx by 89%, i.e. 160 ton per year. CO2 emission is also reduced by 23% compared to operation on marine diesel.