STX Europe has been awarded contracts with Siem Offshore for design
and building of two Platform Supply Vessels. The vessels are designed
by STX Europe in Ålesund and will be built at STX Europe in Brazil.
The vessels are scheduled for delivery in Q2 2012 and Q2 2013. The
total value of the contracts amounts to approximately NOK 900
million.


The contracts are signed with Siem Consub SA in Brazil, a subsidiary
of Siem Offshore.

Roy Reite, President of STX Europe's Offshore & Specialized Vessels
business area, says:
"I am very pleased that Siem Offshore again has placed two
newbuilding contracts with STX Europe. In the past we have built a
series of eight vessels for Siem Offshore, whereof the last vessel
was delivered in 2007.
We look forward to build these two Platform Supply Vessels, which are
of STX Europe's new PSV 09 CD design. The design is an outcome of our
long-term research and development programs, aimed at creating new
vessel designs that improve performance, enhance profitability, and
reduce environmental impact."

STX Europe has pursued three R&D challenges in order to reduce the
vessels' fuel consumption: Hull resistance in still water, resistance
in sea and interaction between propeller and hull. The patent pending
hull design is optimized for "eco-drive" in all weather conditions,
and is designed with high focus on reduction of water resistance in
various conditions. The fore ship delivers three different responses:
In quiet water, the vessel's protruding bulb offers minimal hull
resistance. In moderate seas, waves will hit a flattened surface
which breaks them up and disperses them. In high seas, the bow's
upper region cuts through waves to provide smooth passage. The
interaction between hull and propeller also contributes to reduced
fuel consumption, by optimal propeller positioning and a hull shape
created to provide optimal propeller inflow.

The vessels also incorporate tailor-made features in terms of range,
speed, capacity and cargo flexibility to attend the challenging
requirements of the exploration and production support operations in
the Brazilian "pre-salt" oil fields.

The vessels are scheduled for delivery in Q2 2012 and Q2 2013. The
company's divisions for design, trading and electrical systems,
located in Ålesund, Norway, will deliver design and equipment
packages for the projects. The vessels will be built, outfitted, and
commissioned at STX Europe in Rio de Janeiro, Brazil.



Technical information:


Design:                                    STX Norway Offshore Design
Types of vessel:                           PSV 09 CD
Shipyard:                                  STX Brazil Offshore

Length overall                              87.9 m
Breadth moulded                             19.0 m
Depth main deck                               8.0 m
Deadweight                                 4,700 t
Accommodation                                   34 persons




A picture of the vessels is available at:
www.stxeurope.com - media centre - download centre
ID: NorwayPress / Password: NorwayPress


For further information please contact:


Hege Anita Akselvoll           Magne Håberg
Communications Manager         Senior Vice President, Sales and
Offshore & Specialized Vessels Marketing
                               Offshore & Specialized Vessels
Direct: +47 71183534
Mobile: +47 91690051           Direct: +47 70 21 06 10
hege.akselvoll@stxeurope.com   Mobile: +47 91 51 02 31
                               magne.haberg@stxeurope.com



STX Europe AS is an international shipbuilding group which aims to be
the leading builder of cruise and offshore vessels. The group has a
strong position in terms of developing state-of-the-art concepts,
technology, processes and products for customers around the world.
STX Europe AS comprises 15 shipyards in Finland, France, Norway,
Romania, Brazil and Vietnam. STX Europe has approx. 16 000 employees.
Formerly known as Aker Yards, the group changed its name to STX
Europe in November 2008.

STX Europe's principal shareholder, the international industrial
group STX, has approximately 40 000 employees and aims to be a global
top player in its core areas; shipping and trade, shipbuilding and
machineries, plant and construction, and energy.

www.stxeurope.com


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