Siem Offshore Declares Options for Two OSCVs (Norway)

Siem Offshore has declared the options with STX OSV for the design and construction of two additional Offshore Subsea Construction Vessels (“OSCV”).

The vessels will be equipped with a 250t AHC crane and with Launch and Recovery Systems (“LARS”) for Remotely Operated Underwater Vehicles (“ROV”).

The contracts are made at market terms and the vessels are scheduled for delivery in 2Q 2014. Siem Offshore has already two OSCVs under construction at STX OSV Norway with delivery in 3Q and 4Q 2013.

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Press Release, October 10, 2012