Norway: Bergen Group Signs LOI for Rebuilding of Seismic Vessel

Bergen Group has, through its subsidiary Bergen Group AS Halsnøy signed a Letter of Intent on a rebuilding of the seismic vessel “Geowave Master” owned by Master and Commander AS.

The LOI includes work project with a total estimated value of NOK 160 – 170 million(Approximately USD$28 million).

The vessel arrived at Bergen Group Halsnøy this week for preparations for the rebuilding project. The project will, in case of a finalized contract, generate significant increase in the activity at Bergen Group Halsnøy over the next 5 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 1800 employees along the Norwegian coast from Kirkenes in the north to Stavanger in the south.

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Source: Bergen Group, November  12, 2010;