Canyon Offshore has recently signed a three-year, multi-service agreement with Technip Offshore U.K. Limited to provide remote intervention services under a preferred subcontractor basis. The agreement governs all regions worldwide that Technip-Coflexip entities operate with the exception of Brazil. Under this contract Canyon will provide advanced work class systems and personnel, ROV tooling, remote intervention engineering services and Class 2 and 3 ROV support vessels. To enable Canyon to service the requirements under this agreement, the company will be increasing its fleet of ROV systems by the addition of three 2,500-meter rated Perry Slingsby Triton XLS work class ROV systems, scheduled for delivery in the second quarter of 2003.
