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Further deepwater ROV build program for i-Tech

i-Tech a division of global subsea construction and engineering contractor Subsea 7 Inc. announced today that it has placed a further significant order for new build deepwater work class vehicles, which will be supplied with advanced, light weight, high performance handling systems. The 125hp Centurion Qx is rated to operate at water depths up to 2,000m as standard with options to upgrade to 3,000m and beyond.

The systems will be built by SMD Hydrovision (SMDH) at their Turbinia works on the river Tyne in Newcastle, UK. The Centurion Qx is an evolution of the successful Subsea 7 designed and built Centurion work class series. The Centurion Qx incorporates a number of key components used on SMDH’s proven Q-Series range of ROV’s including DVECS distributed control and the latest generation Curvetech thrusters.

This build program is in addition to that announced by i-Tech in May of this year. From the new build ROV program announced today i-Tech has already secured long term commitments for a number of systems, where they will work in both Equatorial Guinea and Brazil further consolidating i-Tech’s leadership position in providing ROV systems in these countries.

i-Tech’s Managing Director, Neil Milne, commented, "We are delighted to be able to announce a second major build program within a year of i-Tech’s formation. We are particularly pleased that we have already secured long term work for a number of these second phase systems and have a large number of potential long term opportunities where the few remaining uncommitted systems will undoubtedly be deployed".

 

Ends 20 December 2006

Subsea 7 Public Relations:

Pat Stephen Tel: +44 1224 344508 or +44 7712 427608

E-mail: pat.stephen@subsea7.com

Notes to editors:

With over 500 personnel globally and with over 70 ROV’s permanently deployed (together with access to Subsea 7’s additional fleet of 50 plus ROV’s and 3,500 personnel), I – Tech is currently the worlds second largest ROV provider, and operates out of four regional centres: Europe and Africa, Asia Pacific, the Americas and Brazil.

 

www.subsea7.com

Subsea 7’s shares trade on the Oslo Stock Exchange (www.ose.no): Ticker Code SUB.

SMD Hydrovision has bee manufacturing high quality underwater remotely operated systems and associated deck handling equipment for over 30 years. In addition to ROV systems, SMDH is world renowned for seabed intervention systems such as cable and pipeline, ploughs and trenchers designed for sustained operation in the harshest environments. www.smdhydrovision.com

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