Offshore staff

(Norway)- Fugro has placed an order for a new 3D seismic survey vessel, theGeo Caribbean, with the Bergen Mekaniske Verksted (BMV) shipyard in Norway.

The vessel is scheduled for an October 2008 delivery, and will be equipped for towing a maximum number of 14 streamers for long offset acquisition (streamer length over 9 km). Fugro says that the vessel's special design allows for future multiple purpose utilization.

The 101 m-longGeo Caribbean has the same design as two vessels previously announced under charter by Fugro: the Geo Celtic seismic survey vessel will be available in May 2007, and the ROV support vessel Fugro Saltire will be available in February 2008. These vessels were chartered by Fugro from E. Forland Shipowners.

Unlike these vessels, theGeo Caribbean will be owned by Fugro. Total investment in both the Geo Caribbean and all necessary seismic equipment is over $128 million.

This investment is part of Fugro's earlier announced plan to increase and modernize its marine seismic capacity, and will be financed out of Fugro's own resources.

07/03/2006