Odim Wins Another PGS Contract

Odim ASA on Wednesday won a NOK 110-million contract for the delivery of a complete automated handling system for yet another Ramform vessel for Petroleum Geo-Services (PGS).

The vessel will be built by Aker Langsten, and the system is due to be delivered by Odim in December 2008. The new Ramform vessels can tow up to 22 streamers simultaneously.

"We are proud of the vote of confidence PGS gives us by their choice of Odim as supplier of automated handling solutions, once again," said Idar Hatloy, Vice President - Seismic at ODIM.

Odim ASA is a fast-expanding Norwegian technology company that develops and sells advanced automated handling solutions, primarily cable handling systems and winches for use on offshore and naval vessels. The company occupies a leading position in selected market segments, such as seismic surveying and offshore supply. Through its subsidiaries in North America, it is also solidly rooted in the defense sector. In addition to its established market segments, Odim will be making a heavy commitment to the very promising deepwater market.

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