Oceanteam Buys First ROVs

Oceanteam Power & Umbilical has signed a contract with Perry Slingsby Systems Ltd, to purchase two Triton XLS 150 HP Heavy Work class ROV systems.

The ROVs are a proven design, which has a track record of excellent performance utilizing state of the art technology to provide a highly competent subsea tool.

It is planned that the spreads will be utilized in support of Oceanteam`s installation projects onboard the North Ocean Vessels, but they will also be available to the general market when not engaged on those projects. The first vehicle will be delivered in August 2007. This investment represents a further step forward for Oceanteam's commitment to providing a complete solution to flexible product installation and maintenance.

The total investment is estimated at GBP 5 million.