This frame contract, valued at $120 million, is for the provision of survey services for a period of five years from March 15, 2007 with two options, each of two years for the extension of this contract. The contract provides a firm commitment for 250 ship days annually with four additional revolving options for further periods of thirty days work. The contract includes options for a second survey vessel on a yearly or ad-hoc basis. The work will initially be conducted from the Acergy Petrel with the Acergy Viking taking over as the primary vessel on this contract when she becomes available in the third quarter of 2007.
Øyvind Mikaelsen, Vice President Acergy Northern Europe and Canada, said “We are delighted to have been awarded this survey frame agreement with Statoil as a continuation of our long term relationship. Acergy has provided survey services to Statoil for more than 20 years and our continued emphasis on developing high performance survey spreads has been successful. For this new contract we have purpose-designed and built the Acergy Viking, with outstanding capabilities for survey, inspection and construction support work.”