Successful Keel Laying for Support Vessel at YRS

Yantai Raffles Shipyard Limited announced the successful keel laying for the Elevating Support Vessel it is building for Remedial Offshore (Remedial Cyprus PCL) at a ceremony held at the shipyard in Yantai, Shandong Province, China.

During the ceremony, the first major hull section, which will house the ESV unit's electrical generation equipment, was placed in position, thus triggering the commencement of equipment setting and other construction work for the vessel.

The purpose-built ESV which can operate on any well in water depths of up to 325 feet (100 meters) employs Remedial Offshore's proprietary ESV™ technology to provide safe, efficient operational environments for well intervention and workover activities while minimizing logistical issues.

Chief Executive Officer of YRS, Mr Cho Yong Jin said, "We will continue to do our best to ensure the successful delivery of the vessel and I would like to take this opportunity to thank Remedial Offshore and the American Bureau Society for the support rendered." The vessel is on track for delivery in March 2009.