Oceanteam secures two more options

Oceanteam Power & Umbilical ASA has secured two additional options with the Spanish shipbuilder MetalShips & Docks, SUA to build construction support vessels with delivery third quarter 2011 and third quarter 2012. Oceanteam will target the vessels at its established Subsea – and Power & Umbilical installation services markets with particular emphasis on Subsea Services.

Oceanteam is already building five large construction support / power cable lay vessels

by MetalShips & Docks in Vigo of which the first delivery in the series is 50/50 owned

together with Bourbon Offshore Norway AS. This vessel, the Bourbon Oceanteam 101, will start operations late November 2007.