New Billion NOK Contract to Eidesvik Offshore

Eidesvik Offshore ASA has entered into a long term Charter agreement for a large Subsea Construction vessel with Veolia ES Special Services, Inc., USA. The vessel is under contruction and scheduled for delivery in December 2008 from Ulstein Verft AS. The contract is for eight years with optional extensions with a contract value for the firm period of more than a Billion NOK.

"This contract is again a confirmation of Eidesvik Offshore's ability to create long term business," says CEO Jan Fredrik Meling in Eidesvik Offshore. "Our strategy is to make tailor made solutions to enhance sustainable long-lasting business relations with our customers."

Chris Hohol, vice president and general manager of Veolia ES Spesial Services, Inc., remarked, "This vessel will further strengthen Veolia's capabilities for the deep and ultradeep market and allow us to better serve our oil and gas and marine construction customers vell into the future."

The vessel is a large Subsea Construction vessel, type SX SX121 with the innovative ULSTEIN X-BOW design. It has a length overall of 130 m, breadth of 25 m and a large cargo deck area of 1700m2. Up to 105 persons can be accommodated and vessel will be equipped with two moonpools, a 250 tons active heave compensated offshore crane, ROV-hangar, diesel-electric machinery and helicopter deck.