STX OSV Wins Contracts for Two OSCV

Press Release
Wednesday, October 10, 2012

Siem Offshore declares contract options for STX OSV Holdings to design & construct two Offshore Subsea Construction Vessels (OSCV).

The vessels will be equipped with a 250t AHC crane and with Launch and Recovery Systems (“LARS”) for Remotely Operated Underwater Vehicles (“ROV”).

Deliveries are scheduled from STX OSV Brattvaag in Norway in 2Q 2014 after the delivery of the hulls from STX OSV Tulcea in Romania.

STX OSV already has two OSCVs under construction for the same customer in Norway, and two Platform Supply Vessels (“PSV”) in Brazil.

Siem Offshore Inc. is an owner and operator of modern support vessels for the global oil and gas service industry. Siem Offshore Inc. currently has a fleet of 37 vessels in operation and 8 vessels under construction. Its fleet includes large AHTS vessels, OSCVs, PSVs, and other support vessels.

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