Barents Sea Contract for AHTS Vessel

Siem Offshore and Statoil have agreed a contract for
the AHTS vessel 'Siem Topaz' for operations in the
Barents Sea. The contract is for a firm period for
three wells, with options for one additional well.
The operations shall commence within year-end 2010.

The 'Siem Topaz' is the sixth AHTS vessel in the
series of eight new sister vessels to be delivered to
Siem Offshore. The 'Siem Topaz' has a length of 91
meters, breath of 22 meter, 28,000 BHP, 500 tonnes
winch and a bollard pull in excess of 300
tonnes. 'Siem Topaz' is scheduled for delivery in
July 2010.

The fifth AHTS vessel 'Siem Ruby' was delivered to
Siem Offshore in mid-July 2010 and joined the fleet
of sister vessels already in operation.


For further information:

Terje Sørensen
Chief Executive Officer
+47 91 31 61 64

Christian Berg
Chief Commercial Officer
+47 97 40 55 53