Dolphin charters two Artemis seismic vessels

The Dolphin Group ASA has agreed to charter two seismic survey vessels from Artemis Shipping AS.

Offshore staff

OSLO, Norway – The Dolphin Group ASA has agreed to charter two seismic survey vessels from Artemis Shipping AS. The M/V Artemis Arctic will be on time charter for an initial five years with two, two-year options. The M/V Artemis Atlantic time charter is for four years with two, two-year options.

Dolphin has the option to upgrade Artemis Arctic to eight streamer capacity and plans to move the ice-class vessel to the North Sea to begin operations by the end of this month.

The Artemis Atlantic will continue work on an existing 2D multi-client program off West Africa.

“In our continuing efforts to build a new leading geophysical company, this opportunity to secure additional vessel capacity that will be operating immediately, is highly attractive to Dolphin,” said Atle Jacobsen, CEO. “The financial term for the two charters and related financing is very competitive and these vessels will fit well into our existing fleet and secure significant capacity and revenue growth for the company based on the existing capital structure of the Dolphin Group.”

05/09/2011

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