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SOLSTAD PSV

June 7, 2010

Solstad Offshore orders LNG powered PSV

Solstad Offshore ASA (Oslo: SOFF) has entered into a contract with STX Norway Offshore AS for the construction of one Platform Supply vessel of PSV 12 LNG design.

The value of the contract is approximately NOK 450 million and delivery is scheduled to November 2011.

The 5,000 dwt PSV 12 LNG will be able to operate on Liquefied Natural Gas (LNG), biofuel or ordinary marine diesel oil. STX Europe says its gas tank solution is unique and that the LNG tank does not reduce the cargo capacity on board; rather the new design has a higher cargo capacity than other vessels of the same size.

The vessel is designed with focus on low fuel consumption, and precautions in accordance with DNV's Clean Design requirements are incorporated in the design.

The vessel has been designed by STX Europe's design office in Alesund, Norway. The hull will be built at STX Europe in Tulcea, Romania, and outfitted at the STX Europe Langsten shipyard in Norway.

Length overall approx. 94.3 m

Breadth molded approx. 20.0 m

Depth main deck approx. 8.3 m

Deadweight at max draft approx. 5.000 t


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