STX OSV Secures Contract For One Offshore Subsea
Construction Vessel For DOF


Singapore, 19 March, 2012

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured a new contract for the design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for DOF. The value of the contract amounts to approximately NOK 650 million.

The vessel is of OSCV 11 design, developed by STX OSV in Ålesund, Norway. It will be designed with the new innovative moon pool concept from STX OSV. STX OSV Design has together with Marintek and DOF Management just completed an extensive research program supported by the Norwegian Research Council, focusing on safe design and operation of moon pools. The results of the three years’ R&D program have been incorporated into the new moon pool design for the OSCV. Compared to vessels with conventional moon pool design, the vessel can operate in a wider range of weather conditions in a safer manner for the vessel’s crew and equipment.

The overall length of the vessel will be approximately 121 meters with a beam of 22 meters. It will be equipped with one 250 tons offshore crane and two ROV systems. The vessel will have accommodation for 100 persons.

Delivery is scheduled from STX OSV Søviknes in Norway in 2Q 2013. The hull of the vessel will be delivered from STX OSV Tulcea in Romania.

DOF was founded in 1981 and is today an international group of companies which owns and operates a modern fleet of offshore / subsea vessels. The DOF group’s diversified fleet consists of innovative vessels specialized for different operational purposes; Platform Supply Vessels (PSV), Anchor Handling Tug Supply Vessels (AHTS) and Construction Support /Subsea ROV Vessels (CSV).

About STX OSV
STX OSV Holdings Limited (“STX OSV”), together with its subsidiaries, is one of the major global designers and shipbuilders of offshore and specialized vessels used in the offshore oil and gas exploration and production and oil services industries. Headquartered in Norway and with approximately 9,000 employees, STX OSV operates nine strategically located shipbuilding facilities, including five in Norway, two in Romania, one in Brazil and one in Vietnam.

STX OSV’s long shipbuilding traditions, cutting-edge innovation and technology coupled with its global operations ensure access to the fastest growing oil exploration markets. The company’s expertise and track record in constructing complex and highly customized offshore and specialized vessels have earned it recognition from industry players and enabled it to build strong relationships with its customers.

STX OSV was listed on the Main Board of Singapore Exchange (SGX) on 12 November 2010. STX OSV’s major shareholder STX Europe is part of the international STX Group. STX Group has approximately 54,000 employees, and aims to be a global top player in its core areas; shipping and trade, shipbuilding and machineries, plant and construction, and energy.

STX OSV Holdings Limited, press release