Odim Wins NOK 160 Million Equipment Contract from Eastern Echo

ODIM was awarded a contract for automated handling solutions on vessels conducting three-dimensional seismic surveys by Eastern Echo, worth NOK 160 million.

This contract covers complete aft deck systems with the capacity to handle up to 12 streamers apiece for delivery in 2008 to two newbuildings - conditional on the availability of construction finance.

In addition, the assignment embraces upgrading the handling capacity of four other vessels from 10 to 12 streamers each.

Eastern Echo placed its first orders with ODIM this March and, with the latest contract, has purchased the company's automated handling equipment to a value of almost NOK 400 million in 2007.

"We're proud that Eastern Echo has chosen to optimize its fleet with our complete aft deck solutions," says ODIM chief executive Jogeir Romestrand. "This company is a relatively new customer, and we regard the present order as confirmation of our position as a preferred supplier to the seismic industry.

"Since the vessels in our fleet will operate in the high-end 3D segment, first-class handling systems are crucial," comments Rolf Ronningen, chief executive of Eastern Echo. We know ODIM stands for quality and, on the basis of its efficient solutions for aft deck operation, we're sure that we'll be able to secure competitive revenues for this type of ship.

"Upgrading the four vessels for which we've earlier ordered equipment will also enhance our efficiency compared with the old solutions for a maximum of 10streamers."