Høylandsbygd 23. May 2012.

EIDE MARINE SERVICES HAS BEEN AWARDED A 8 YEAR + 2 + 2 YEAR CONTRACT FROM STATOIL FOR SUPPLY OF ONE LIGHT WELL INTERVENTION VESSEL, CAT A

Statoil contract

Eide Marine Services AS via sister company Eide Well Intervention AS have been awarded a contract from Statoil for supply of one CAT A Light Well Intervention Vessel inclusive work over and other services.

The contract has a 8 years fixed period and two times 2 years option. The contract can provide up to 6.0 billion NOK
in revenues over the 8 year fixed period.  Startup of the service to Statoil will be 1. April 2015.

Contingent on partner approval.

Statoil has an option to declare 1 additional vessel.

The vessel

The vessel is developed by Eide Marine Services AS and it’s a new hybrid design
that sails like a vessel and operate as a rig. The design provides materially improved
seaworthiness than the other known vessel-concepts in the market. Due to the good
seaworthiness the vessel have substancely higher uptime compared to mono-hulls
and will provide a much higher production rate over the year.

The vessel is  122 m long x 45 m wide, with a displacement of 47000 tons and have
accommodation for 120 people onboard. The vessel is special designed for
maintenance of wells.  

This will be the first vessel ever delivered of this innovative design and will improve
the effeciency and safety significantly for this type of work.  With a workdeck of 3.400
m2 all necessary handling of equipment will be reduced to a minimum and this will
increase the safety and reduce the human exposure related to the operations.

Due to motion caracteristics the vessel will do mob/demob of crew and equipment
offshore – also under rough weather conditions.  This will increase the efficiency of
the service significantly.

Operations

As manager Eide Marine Services AS will supply a full LWI CAT A service to Statoil.  
In the Eide team Halliburton is providing wire line and down hole services,
Oceaneering  ROV operations, Advantec well control System and Subsea
technologies the  stack solution.  

All the subcontractors have long experience from delivery of services to the
oilindustry and have a very good trackrecord regarding HSE.

Eide Marine Services AS

Eide Marine Services AS is a company that operates with special transports, heavy lifting operations, salvage, installation and maintenance of subsea equipment and installation of wind turbines offshore. The company works in civil and military market segment. The company is internationally established with subsidiary companies in the Netherlands, Singapore, China and Brazil. The company’s headquarter is in Høylandsbygd where the main administration is. The company also has a maintenance base in Høylandsbygd. Eide is now establishing a new Eide Subsea company with office in Stavanger to specialize in well service and subsea work.

With these contracts in place, we envisage that we need to engage a number of new personnel. This is very gratifying for us to put in place. The vessel-design that Eide Marine Services AS has developed could be used for many applications in the offshore industry in addition to this preparation, ,pipe laying, construction / installation works, Accommodation, drilling unit, ROV, P&A work, water  injection Stimulation, Early production, Tender rig to name some..

Construction of the vessel

Eide Marine Services AS has the hull under construction at Bohai Shipbuilding and Heavy Industry Yard in China. The hull production is 85 % completed. STX Finland will do the outfitting of the vessel. It will also provide significant deliveries from the Norwegian equipment supplier industry.

For more information please contact Georg Eide mobile + 47 900 65885