Charter Agreement for ‘Subsea Viking’ (Norway)

Subsea 7, a global leader in seabed-to-surface engineering, construction and services contractor to the energy industry, has today declared its option for 2 years extension, starting from 1st of January 2013, and in addition agreed to extend the contract for the subsea vessel “Subsea Viking” further with 3 years firm in direct continuation of existing contract.

In addition Subsea 7 has an option for further 2 years extension of the contract.

“Subsea Viking” has up to this day continuously worked for Subsea 7 for over 12 years.

The vessel has operated without lost time injuries since delivery in 1999 and both companies’ commitment to the highest standards for safe work, high quality performance and good communication has proven to give excellent results.

The concluded time charter rate is on today’s market terms.

“Eidesvik is pleased to have Subsea Viking extended with Subsea 7. We see this as a proof of the success of the close and good cooperation between Eidesvik and Subsea 7,” says CEO Jan Fredrik Meling.

[mappress]

Eidesvik, October 15, 2012