TSMarine wins multiple contracts

TSMarine (Contracting) Ltd.'s newest offshore support vessel, the Rem Etive, has been contracted to work offshore Mumbai as part of a $100-million deal with DeepOcean ASA.

Offshore staff

ABERDEEN, UK -- TSMarine (Contracting) Ltd.'s newest offshore support vessel, the Rem Etive, has been contracted to work offshore Mumbai as part of a $100-million deal with DeepOcean ASA.

The three-year contract begins in Dec. 2007. The vessel will provide supporting operations for Reliance Industries Ltd. on oil and gas discoveries on block KG-DWN-98/3 in the Krishna-Godavari Basin in the Bay of Bengal off India's east coast.

Between 18 and 20 subsea wells and six manifolds will be installed to produce through two export lines to an onshore terminal. There contract carries two one-year options, valued at up to $60 million.

TheRem Etive has left Aberdeen and will be working offshore South Korean on her way to India as part of a separate contract with Fugro Geosciences International Ltd., TSMarine says. The vessel will be deployed for 10-12 weeks, supporting geotechnical drilling and coring for the Korea National Oil Corp.

TSMarine has also entered into a charter with DeepOcean ASA for theNormand Flower. This vessel will be chartered to TSMarine for a year with two six-month options from Jan. 2008.

TheNormand Flower will supply subsea decommissioning, rigless intervention, and general subsea support operations. The charter covers TSMarine's commitments in the North Sea until its new MT6040 subsea decommissioning and intervention vessels are delivered in 2008 and 2009.

The company also has contracted thePolar Prince for 50 days to complete work for ConocoPhilips and Bibby Offshore Ltd. in the East Irish Sea.

TSMarine also has been deployed to complete a 35-day contract for Bibby Offshore Ltd. The project includes spool piece installation and the retrieval of mattress frames from the seabed.

8/14/2007

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