FPSOcean Acquires Nordic Laurita and Semakau Spirit

FPSOcean has acquired the shuttle tanker "Nordic Laurita" and the Aframax tanker "Semakau Spirit" for conversion into deepwater dynamically positioned Floating Production, Storage and Offloading (FPSO) vessels. The "Nordic Laurita", to be renamed the "DeeP Producer 1", is scheduled for completion by 1st quarter 2008 and ready for first oil by 2nd quarter 2008. The "Semakau Spirit" will be renamed "DeeP Producer 2" and is likely to start conversion at Dubai Drydocks during first half of 2008. FPSOcean is seeking to develop a fleet of 4 - 6 deepwater FPSOs over a period of 5 - 6 years.