Aker Inks Contract to Construct Vessel for Island Offshore

Aker Yards has signed a contract with Island Offshore for building of a well intervention unit to Island Offshore. The vessel will be based on the same design as "Island Wellserver," delivered from Aker Yards earlier this year. The vessel is equipped for operations in the North Sea market especially, and worldwide generally.

The value of the contract is approximately NOK 1.2 billion included equipment supplied by the owners. The well intervention unit is scheduled for delivery in Q3 2011.

President of Aker Yards' business area Offshore & Specialized Vessels, Roy Reite, commented, "I am very pleased that Island Offshore again has placed a new building contract with Aker Yards. We delivered the second well intervention vessel to Island Offshore some months ago, and we are looking forward to build the third and upgraded vessel. We have delivered more than 20 vessels to Island Offshore, and we appreciate the excellent cooperation with this innovative client."

Island Offshore is a front runner in the well intervention market, with its competence and experience of well intervention service.

The new vessel will be based on the same design as "Island Wellserver," upgraded with increased length, engine capacity, thrusters capacity and topside capacity.

The well intervention unit will be of Rolls-Royce UT 767 CDL design, and will be built at Aker Yards in Norway.