Aker Yards to Build Construction Vessels for Aker Oilfield Services

Aker Yards has entered into a contract with Aker Oilfield Services to build four large well intervention / construction vessels, and an option for another two vessels. The Owner has a cancellation possibility for the two last fixed vessels. All vessels will be delivered from Aker Yards` sites in Norway. The value of the contract for the four vessels is approximately NOK 4 000 million. The contract is subject to financing. The vessels are of Aker Yards design, type Aker OSCV 06 WI, developed for Aker Oilfield Services on basis of the OSCV 06 design, adapted for well intervention purposes. Delivery of the first vessel is scheduled for spring 2010, and the following vessels will be delivered with approximately six months interval. The vessels will be 157 meters long with a beam of 27 meters, and will be equipped with an active heave compensated crane, ROV, launching systems and a Derrick for well intervention purposes. The vessels will have DP Class 3 and Ice Class. The vessels will have a maximum speed of 18 knots, which is of significant importance for global operations in order to minimize mobilization time.