Fairstar to Transport Energy Exerter Rig to Greece

Fairstar Heavy Transport NV (FAIR) has entered into an agreement with Northern Offshore U.K. Ltd. to transport the Energy Exerter drilling rig from Invergordon, Scotland, to Kavalla, Greece. The total contract value is approximately US $3.1 million. The transit will commence in January 2009, in direct continuation of the transportation of the Energy Exerter for Gazflot.

Mario Kerssens, Fairstar Sales & Marketing Director, "This project is a logical extension of the transport contract Fairstar has with Gazflot for the Energy Exerter. The rig will be picked up in Kirkenes, Norway and does not need to be off-loaded in between projects."

After discharging the Energy Exerter in Greece, the Fjord will proceed immediately to Newcastle where it will load the floating dry dock and various other pieces of heavy equipment under the terms of its previously announced contract with Bharati Shipyards.

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