Norway: Bergen Group Confirms Contract for Rebuilding of Seismic Vessel

Reference is made to earlier announced LOI for rebuilding of the seismic vessel “Geowave Master” with a total estimated value of NOK 160 – 170 million(Approximately USD $ 24 million).

Bergen Group has, through its subsidiary Bergen Group Halsnøy AS, now signed a final contract for this rebuilding. The scope in the contract has the same value as estimated in the LOI, and will generate significant activity at Bergen Group

Halsnøy over the next 4 months.

Bergen Group Halsnøy AS is a part of Bergen Group’s Maritime Services Division, a leading supplier of ship maintenance and repair services with locations at

Halsnøy, Laksevåg and Kirkenes.

Bergen Group is a maritime industrial group with expertise in shipbuilding, maritime service, offshore and technology. The group, headquartered in Bergen, has a total of 1,800 employees along the Norwegian coast from Kirkenes in the north to Stavanger in the south.

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Source: Bergen Group, November 30, 2010;