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Malta Drydocks Wins Conversion Contract

Maritime Activity Reports, Inc.

December 11, 2000

Malta Drydocks was awarded a contract by Brovig-RDS of the U.K. to convert the former Shell tanker Northia to a floating storage and offloading unit. The contract is the first of its type for the Malta yard in nearly 20 years. Malta Drydocks said a group of international experts from Poseidon Maritime of Aberdeen, Scotland and Petromaritime Consulting of Monaco had assisted it in the preparation of the winning bid and will be working with the yard on the execution of the contract. The 133,500-dwt Northia was built in 1971 for North Sea Operations. The conversion work will be handled between February and April next year, after which the vessel will be based in the Isis field off the coast of Tunisia.

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