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    Eidesvik and Veritas order newbuild seismic vessel against long-term charter

    News // January 6, 2006

    Eidesvik Offshore ASA and Veritas DGC have announced that Eidesvik Shipping AS and Veritas’ Viking Maritime subsidiary have entered into an agreement to charter a newbuild seismic research vessel.

    The time charter is for a period of eight years fixed, with options of up to 10 more years. When delivered from West Contractors yard in Ølensvåg, Norway, in February 2007, the vessel will be the seventh seismic vessel in the Veritas fleet, and the fourth to be owned and operated on behalf of Veritas by Eidesvik on worldwide seismic operations.
     
    The vessel is 105m long with a breadth of 24m, and will have ability to tow up to 12 streamers. The vessels' gross tonnage will be approximately 11,500 tonnes and the ship will have accommodation for up to 70.

    The vessel will be owned by Eidesvik Shipping AS, the wholly owned subsidiary of Eidesvik Offshore ASA. The construction cost of the vessel, excluding seismic equipment, is NKr 366 million.

    “Veritas and Eidesvik have again joined forces on all levels for the benefit of both parties, and most importantly, for their clients,” said Eidesvik Chief Executive Officer Jan Fredrik Meling. “Eidesvik’s policy is to build and maintain long-term relationships with our charterers. The operation of the three Viking-class vessels has proven to be a success and we are very happy to be awarded this contract for the fourth vessel on charter to Veritas.”

    The other three vessels on time charter contract to Veritas are Veritas Viking, Veritas Viking II and Veritas Vantage, delivered in 1998, 1999 and 2002 respectively.

    Eidesvik provides the maritime crews and all marine operations and management for the vessels, while Veritas provides all seismic-related aspects of the operations.

    Richard Price, Veritas’ Senior Vice President, Marine Acquisition, said: “Veritas has been seeking an opportunity to extend its global marine acquisition capability, to meet the growing demand for our services, and we are very pleased to have entered into this agreement with Eidesvik for an additional vessel. We look forward to extending our excellent relationship with Eidesvik, and to making another world-class, safe, efficient multi-streamer seismic vessel available to our customers worldwide.”

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