Island Offshore, in which the Chouest family is a partner, has placed contracts with STX OSV Holdings Limited for the construction of two platform supply vessels.

STX OSV says the total value of the contracts amounts to approximately NOK 750 million.

The vessels will be of Rolls Royce's UT 776 CD design. The overall length of each vessel will be 96.8 meters with a beam of 20.0 meters, and the deadweight will be 4800 DWT.

Deliveries are scheduled from STX OSV Brevik in Norway in the first and third quarter 2013 respectively. The hulls of the vessels will be delivered from STX OSV's Braila shipyard in Romania.

The contract for the second vessel is subject to certain conditions being fulfilled before the end of the third quarter of 2011.

June 9, 2011