The long-term contract will last until 1st January 2013 with an option for a contract extension. With another Havyard design TM on a long-term contract is a clear proof of Havyard delivering quality offshore designs and quality offshore vessels that the market demands and is satisfied with.

Before delivery, Havila Subsea has been through a rebuilding programme at Havyard Ship Technology in Leirvik, Norway, in order to adapt the contract to its mission. Many professions like electro, machining, outfitting, piping, painting and accommodation have been directly involved in the rebuilding programme. Amongst many things there have been rebuilding of cabins, increased from 70 to 78 and also rebuilding of piping systems and hydraulics.

 - Havila Shipping is pleased to have another vessel entering a long-term contract and we are happy with Havila Subsea. This is also part of strengthening the cooperation between Havila and Subsea 7 and it shows that we already have a close and good cooperation. Havyard has done a solid job in designing and building this vessel to the satisfaction of all parties involved, says CEO Njål Sævik of Havila Shipping.

 - We are very pleased with taking on Havila Subsea on a long-term contract, says CEO Øyvind Mikaelsen of Subsea7. The vessel will be working according to the agreement signed with Statoil earlier this year performing inspection, maintenance and repair work.

 - By the delivery of newbuild 101 we confirm our position as a supplier of offshore vessels of top quality and standards. With the ship now operating for Subsea 7 and Statoil is a further confirmation of the vessel`s design and that the quality is of the highest class. We are of course very pleased that Havyard`s product is in operation for demanding and professional parties. We would like to give credit to ship-owners and operator for the cooperation in adapting and preparing the ship for the operations it will now perform. Together we have found good solutions in all areas. For Havyard it is also important to show that we are capable of tailoring our products according to the customer`s satisfaction and needs. We believe the whole process of this project has presented Havyard in a good manner, says Project Director Trygve Solaas at Havyard Ship Technology in Leirvik, Norway.

 Havyard Ship TechnologyLeirvik`s newbuild 101, a Havyard 855 IMR design, can now perform subsea missions in the North Sea and in other parts of the world. Through the design- and building process there has been close cooperation between designer, shipyard, suppliers and operator of the ship. In this way, top competence from ship design, shipbuilding and marine operations have been used to find the best end product.

 Havyard Group is a fully integrated supplier of shipbuilding technology and its strategy is to have control over the most competence-demanding and critical areas within the shipbuilding process.

 Havyard Design & Engineering has designed a great variety of offshore designs within PSVs, AHTSs, DSVs and MSVs. Havyard design TM has become a great success since the start in 2005 and there is now built / being built more than 40 vessels of a Havyard design TM in Norway and internationally.

Main data for Havila Subsea:

Loa:                                                       98 m

Breadth:                                                19.8 m

Dead weight:                                        4592 t

Deck area:                                             600 m

Speed:                                                   15.5 knots

Accommodation:                                  78 persons

Main crane:                                           150 tonnes

Class: DNV + 1A1 – E0 – DYNPOS AUTR – SF – DK (+) – CLEAN DESIGN COMF(C3)(V3) – NAUT – AW – HELDK – SH – ICE C - DEICE

For further information please contact:

President and CEO of Havyard Group AS, Geir Johan Bakke, phone +47 48180011 

Chief Information Officer of Havyard Group AS, Gunnar Larsen, phone: +47 90105694