Høylandsbygd 18 October 2010.

EIDE MARINE SERVICES AS ACQUIRE NEW 400 tons FLOATING
CRANE – «EIDE LIFT 6»

Eide Marine Services AS has purchased floating crane «CONLIFT» from Aker Marine Contractors AS. The crane has a lifting capacity of 400 tons and can take deck cargo up to 1,000 tons. The new name of the crane is «EIDE LIFT 6»

Eide Marine Services AS has been into the floating crane market since the 1980s and gained unique expertise. We view the acquisition as a natural strengthening of the floating crane fleet in the  company and a stronghold as the leading floating crane operator in Norway.

The crane will be operated which may be required and being towed by our own tugs.

In connection with the acquisition, it entered into cooperation agreement with Aker Marine Contractors AS. The crane will be stationed at Hinna in Stavanger and Eide Marine Services AS will supply all floating crane services to Aker Marine Contractors AS may need.

Eide Marine Services AS currently has four floating cranes with lifting capacity from 44 tons to 1,800 tons.

Eide Marine Services AS invites you to Offshore Northern Seas in Stavanger.

The exhibition start Tuesday 24th of August and close Friday 27th of August.

You are welcome to visit our crew at booth no 1177 in hall M.

Høylandsbygd 8 June 2010. This press release is sent out to local newspapers and news agents.

EIDE MARINE SERVICES AS HAS WON TWO CONTRACTS ON A NEW DEVELOPED VESSEL

Eide Marine Services AS has secured two contracts that can provide up to 6.3 billion NOK in revenues over a 10 year period. The contracts are fixed for 5 years and with further options of 5 years. The contracts are awarded from the Brazilianske Lupatech company which has been awarded contracts from Petrobras.. Eide Marine Services AS will supply and operate two Light Workover Intervention vessels that can work in water depths from 1100 m – 2500 m. The dimensions of the vessels will be 120 m long x 45 m wide, with a displacement of 47000 tons and have a accommodation for 120 people onboard. The vessels is special designed for maintenance of oil and gas wells. This includes coiled tubing, slick line and wireline operations. The vessels can also do predrilling of chasing pipe and installation / de-installation of wet Christmas trees. The vessels is developed by Eide Marine Services AS and provides significant improved seaworthiness than the other vessels on the market, something Eide Marine Services AS has patented in a world patent.

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.

With these contracts in place, we envisage that we need to assign us a number of new employees. This is very gratifying for us to put in place. The vessels that Eide Marine Services AS have developed could be used for many applications in the offshore industry in addition to this preparation, as pipe laying, construction / installation works, Accommodation, oil drilling, to name a few.
Eide Marine Services AS plan to build the hulls of vessels in the fare East and carry out the outfitting in Norway. It will also provide significant deliveries from the Norwegian equipment supplier industry.

Eide Marine Services AS had in 2009 a good year with a profit before tax of NOK 68.8 million and annual profit of 49.5 million kroner. The profit in first quarter of 2010 is 57.9 million NOK.

Should there be further questions, please contact Georg Eide of the mobile + 47 900 65885