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    DeepOcean/CTC Marine to operate second ST 256 L

    Vessel & ROV News // August 1, 2007

    DeepOcean/Volstad are to acquire a second ST 256 L.

    DeepOcean ASA has announced that it has entered into an agreement with Volstad Maritime for a new build 120m construction vessel of the ST-256L design, to be launched in March 2009.

    The agreement will be a limited partnership in which DeepOcean will have a 51 per cent share and an option to purchase the vessel after a period of five years.

    Volstad will manage the commercial and technical aspects of the vesselís development and build.

    This vessel is the second to be built by Volstad for DeepOcean through its subsidiary CTC Marine Projects Ltd and will provide front line service for the companyís global trenching and installation operations.

    "Designed to CTCís requirements, the newbuild will constitute a Ďnext generationí of vessel, operating as multi-role support ship with cable, umbilical and flexible product lay capabilities," said Deepocean.

    DeepOceanís CEO KŚre Johannes Lie said: "This agreement is a major coup for the company. It will enable us to further expand our trenching and general construction capability and provide market confidence in future tonnage availability."

    Volstad Maritime already has a ST 256 L on order, this being a ROV/survey vessel.


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