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    SCAN Stigandi being upgraded to Ice Class and prepared for four streamers

    Vessel & ROV News // August 22, 2007

    SCAN Geophysical has announced that the seismic vessel SCAN Stigandi will be upgraded to Ice Class standard and prepared for four streamer capacity instead of the previously planned three streamer configuration.

    The vessel will commence operation late November and not in the third quarter as previously announced.

    The upgrade involves additional strengthening of the main deck in order to accommodate an additional large streamer winch.

    In addition, the vessel is being prepared for a retractable
    azimuth thruster to be fitted when available early next year, by installing a hull unit and associated equipment.

    The upgrade to Ice Class standard will enable the vessel to extend its operations to Polar zones. The upgrade includes replacing steel plates on the ship’s side with thicker steel plates.

    The extended conversion will imply US$1.3 million in additional investments on the vessel.

    The vessel will also receive additional seismic equipment early next year. An increase from three to four streamer capacity will increase the vessel’s revenue potential and make the vessel attractive for a larger range of surveys.

    The additional investments will be covered by SCAN through increased day rates or by increased capital expenditures.

    The vessel is currently being converted from a modern 2002 built trawler to a seismic vessel at Irving Shipbuilding, in Halifax in Canada.

    The yard is scheduled to deliver the vessel on October 26th 2007 and it is expected that the vessel will start to generate revenue from late November.


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