New contract wins for Miclyn Express Offshore

Contracts, Tenders and Rates - June 12, 2012

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Miclyn Express Offshore (MIO) has announced that, through its Thai joint venture, Uniwise Offshore, it has been awarded a three year firm contract, plus 2 x 1 year extension options, to provide coiled tubing marine support services to Chevron`s production activities in the Gulf of Thailand.

Uniwise Offshore will purchase a PSV that is under construction at a Chinese Shipyard to fulfil the contract. The vessel will commence operation in October 2012.

The new contract is a continuation of a long standing relationship with Chevron in the region.

The company's CEO Diederik de Boer, said: "This new vessel represents our sixth offshore service vessel servicing Chevron in the Gulf of Thailand.

"We have been able to leverage off our strong operating track record in crew/utility vessels to further increase our exposure to Chevronís OSV operations. We look forward to further developing our relationship with Chevron."

In addition, MIO has also secured a two year firm contract with PT Seascape Surveys Indonesia for the charter of its subsea support vessel Miclyn Endeavour.

The vessel will be supporting subsea, survey, inspection and repair activities.

The combined firm value of the two new contracts is US$23.8 million.


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