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Coflexip Strengthens Deepwater Capabilities With Upgrade

Maritime Activity Reports, Inc.

September 3, 1999

Coflexip Stena Offshore has announced that the board of directors of Coflexip approved the upgrade of the CSO Constructor which will allow the group to offer its clients a heavy duty subsea construction vessel, capable of rigid or flexible pipelay in deepwater. This investment, to exceed $30 million, will significantly expand the capabilities of the CSO Constructor. The hull and the deck will be lengthened by 49 ft. and widened by 16 ft. to bring its pipeline payload to 3,000 metric tons. It will also be equipped with a 300 metric ton lift crane. After conversion, the vessel will be able to install rigid lines with the patented M-J Lay system, or flexible lines, stored in a carousel under deck, using the patented Vertical Laying System (VLS), down to 1,500 m (6,500 ft.) water depth. The conversion will begin in March 2000 and will last approximately five months. The vessel will be operational by the end of July 2000. This upgrade strengthens the capabilities of the CSO fleet and enables the Group to offer its clients, located in strategic development areas, cost effective solutions thanks to the vessel's capabilities and versatility: installation of pipe (1,500 metric tons of rigid or 3,000 metric tons of flexible), subsea construction, diving support and maintenance. Tom Ehret, COO of the Coflexip Stena Offshore Group, said, "The conversion of the CSO Constructor is part of the group's strategy, which aims at offering our clients technically sound, cost effective and integrated solutions for deepwater applications. This multipurpose vessel enhances CSO's offering in the heavy intervention vessel category such as the CSO Venturer, based in Asia Pacific, which has fully demonstrated its efficiency in deepwaters. The flexibility of the CSO Constructor meets the needs of our clients who seek to develop their deepwater fields rapidly at lower costs. This vessel will work mostly in West Africa, Brazil and the Gulf of Mexico, where she could also complement the deployment of CSO's new built ultra deepwater vessel currently under construction."

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