Marine Log

June 7, 2006

Aker Yards books ROV vessel contract

Aker Yards has entered into a contract with Olympic Shipping AS, for the building of an ROV Vessel. The value of the contract is approximately NOK 400 million (US$ 66.3 million).

Delivery will be from Aker Yards, Aukra in Norway. The vessel is an Aker ROV 02 CD, designed by Aker Yards Project, with delivery scheduled for April 2008. It will be 106 meters long, and have a beam of 21 meters. The accommodation facilities will have a capacity of 100 persons.

The vessel will be built to DNV Ice C class.

It is specially designed and equipped for Subsea operation duties with a high focus on good sea-keeping abilities and excellent station keeping performances.

The vessel will be environmentally friendly with focus on low fuel consumption and precautions with DNV`s CLEAN DESIGN requirements incorporated.

The vessel will be equipped with a 200 ton subsea crane.