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HEEREMAN NEWBUILD

July 19, 2010

Heerema Marine Contractors orders
deepwater construction vessel

Heerema Marine Contractors (HMC) is to invest $600 - $700 million in a new deep water construction vessel.

It has signed a letter of intent with Daewoo Shipbuilding and Marine Engineering Co., Ltd., Korea (DSME), for the design, engineering, procurement, construction, installation, commissioning and testing of the vessel. Huisman will be responsible for the cranes, tower and reels. The vessel is scheduled for completion of all tests and trials by mid-2013.

HMC is investing in a monohull vessel capable of executing complex deep water infrastructure and pipeline projects in ultra deep water and with sufficient lifting capacity to execute installation of fixed platforms in relatively shallow water.

A key attribute of the vessel will be its fast transit speed. HMC believes this will complement its existing fleet providing a unique fleet composition, which will allow HMC to continue to offer unrivaled services to the offshore oil and gas industry on a world-wide basis.

The new 210 m long self-propelled vessel will be fitted with a pipelay tower for J-lay (tension capacity of 2,000 metric tons) and reeling. A crane with a revolving lift capacity of 4,000 metric tons is installed together with deepwater lowering equipment to reach a water depth of 3,500 meters, which is compatible with Heerema's Deep Water Construction Vessel Balder. The vessel will also be equipped with a class 3 dynamic positioning system.

The hull configuration is specially designed for fast transit speed and optimum motion characteristics in operation whilst the maximum pipe payload is 4,500 metric tons.

The deckhouse is designed to the latest standards and can accommodate 289 persons.

Jan Pieter Klaver, Chief Executive Officer of HMC, said: "With this new Deep Water Construction Vessel, HMC will reinforce its unique position in the deep water pipelay market. We are confident that with DSME and Huisman we have found reliable partners who can build a key asset that will assist us in expanding further into more ultradeep and complex SURF projects globally."


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