Norway: Eidesvik Secures Several New Contracts

Leiv Eriksson Consortium has today awarded Eidesvik two contracts, Viking Lady and Viking Athene.

The firm periodis 15 wells + up to 18 optional wells, starting Q1 2013.

Lundin Norway AS has also declared an option for the use of Viking Prince for totally 7 wells.

Statoil and Eidesvik have agreed to exchange Viking Lady with Eidesvik’s new build “Viking Princess” when she is delivered from the Kleven shipyard September 2012.

“It is very satisfying that our customers once again shows us trust and assign long term contracts with us,” says CEO Jan Fredrik Meling.

With all of Eidesvik`s LNG driven vessels, now on long-term contracts this shows that Eidesvik`s innovative work with Viking Energy, as the world’s first LNG-powered offshore vessel delivered in 2003, is again paying off.

Contract value including options is approximately 1 Billion NOK.

1 billion Norwegian kroner = 168.30500 million U.S. dollars

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Source: Eidesvik, June 15, 2012