Aker Yards has signed a contract worth approximately NOK 650 million to build a Well Intervention Vessel for Island Offshore. The vessel will be delivered in January 2008. Main duties for the new vessel of Rolls Royce design, will be maintenance and repair of oil-/gaswells in deeps of as far as 600 meters, and operate with a riserless wireline intervention system. The vessel will operate an ROV, (remote operated vehicle), for operations on the sea bed. The sub sea related equipment will be provided by FMC and Aker Kvaerner Wellservice. Island Offshore has been assigned a contract by Statoil for well intervention services on the Norwegian continental shelf.