STX OSV to Build Two Additional OSCVs for Siem Offshore (Norway)

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announces that Siem Offshore has declared options 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”). Deliveries are scheduled from STX OSV Brattvaag in Norway in 2Q 2014. The hulls of the vessels will be delivered from STX OSV Tulcea in Romania.

STX OSV already has two OSCVs under construction for the same customer in Norway, and two Platform Supply Vessels (“PSV”) in Brazil.

Siem Offshore Inc. is an owner and operator of modern support vessels for the global oil and gas service industry. Siem Offshore Inc. currently has a fleet of 37 vessels in operation and 8 vessels under construction. The fleet includes large AHTS vessels, OSCVs, PSVs, and other support vessels. Siem Offshore is listed on the Oslo Stock Exchange.

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Press Release, October 10, 2012; Image: STX OSV