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    Ulstein Group gets massive order for well intervention vessel

    Yard News // February 7, 2007

    AOS has ordered this SX121 for operations in West Africa.

    A newly formed company, Marine Subsea Inc, has signed a contract with Ulstein Verft AS for delivery of a SX121 well intervention vessel designed by Ulstein Design AS.

    This is the largest contract for a single ship awarded to the Ulstein Group, and is worth around NKr 840 million.  

    The ship is scheduled for delivery in July 2009 and has already been contracted in Angola.

    “We are very pleased when our new customers ask for ships with the characteristic ULSTEIN X-BOW. We are frontrunners in developing highly advanced construction vessels loaded with equipment enabling them to perform demanding marine operations in deep water,” said CEO Gunvor Ulstein.

    African Offshore Services, the holding company of Marine Subsea Inc, is a newly established company that will carry out well intervention and other oil-service-related operations in West Africa.

    Managing director Christian Nygaard said: "“We are very pleased to have signed the contract for building this innovative vessel. The Ulstein Group is highly reputable with regard to building state-of-the-art vessels and developing innovative design. Island Offshore Management, an industry leader in well intervention, will be handling operations and management for us. That, along with our extensive knowledge of West Africa, makes a solid start."

    Karsten Sævik, managing director of Ulstein Verft AS, said this will be the third vessel of the type ULSTEIN SX121 to be built at Ulstein Verft AS. ”More and more oil installations are now sea-bottom facilities, and we’re seeing an increasing demand for subsea and construction vessels. Supplying vessels for this market will be an important priority area for Ulstein Verft in the future,” said Mr Sævik.

    The vessel will be 120m long with a breadth of 25m and accommodation for 100. The vessel will be fitted with a tower for module handling, a moonpool, ROV hangar, offshore crane, helipad and a diesel-electric propulsion system.

    The vessel will also be fitted with the newly developed ULSTEIN COM and ULSTEIN IAS from Ulstein Elektro AS.

    The principal shareholders and founders of African Offshore Services, Mårten Rød and Gian Angelo Perrucci, have more than 25 years’ experience in both onshore and offshore activities in Angola, Nigeria, Gabon and Congo (Brazaville).

    In addition to ordering an ULSTEIN SX121, they recently signed an agreement to buy three work/accommodations barges at a total value of NKr 580 million. These will be used in conjunction with the building and maintenance of offshore installations.

    Board chairman Mårten Rød says the intention is to further expand the fleet.


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