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ST-266 CD

June 11, 2009

Bergen inks MOU for large construction vessel

Bergen Group subsidiary Bergen Group BMV has signed a Memorandum of Understanding (MoU) with Germany's SAL Schiffahrtskontor Altes Land GmbH & Co. KG ("SAL "). It covers the construction of a large, next generation advanced construction vessel with a DP-3 dynamic positioning system.

The vessel is to be delivered in April 2012 and the contract value is approximately NOK 1.8 billion (about $282 million).

Skipsteknisk AS in Ålesund has developed the project with SAL . It will be responsible for the design of the vessel, which is designates as a Skipsteknisk ST-266 CD.

With a with a cargo deck area of 3,000 sq m a length of 175 m and panamax width of 32 m, the vessel will be suitable for deepwater operations worldwide.

It will be outfitted for flexible pipe and umbilical laying, with two carousels below deck, each with a capacity of 3,500 tonnes.

Pipe laying will be carried out through a client provided VLS (Vertical Laying System) or PPS (Portable Laying System), which will be placed over the moon pool.

A 600 tons offshore crane will allow the ship to transport large structures and place them on the seabed. The crane will lower the structure to a depth of 100 m and transfer it to a heave compensated traction winch system, which will deploy the structure to a waterdepth up to 3,000 m.

"We will be building an extremely advanced vessel with accommodations for 150 persons, three separate engine rooms, and three separate propulsion rooms," says Terje Sjumarken, CEO of Bergen Group BMV. "This will be the first such vessel to be constructed complying to the latest IMO SPS code. Thus, the vessel will have a high crew safety factor, while allowing for extremely reliable operations. This construction represents the core of our competence."

"The vessel will be classified to DP3, and is a continuance of the vessels BN 167 and BN 164, currently being built by Bergen Group for Solstad Offshore and Aquanos Offshore, respectively," he added.

SAL, which currently has a fleet of large heavy lift vessels with crane capacity up to 1,400 tons, has already had significant exposure within the oil & gas sector. SAL is 50% owned by "K"-line, while the remaining 50% is privately owned.


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