Brøvig's stock price shot up on news the company plans to spend USD 22 million (NOK 200 million) to convert the tank ship Northia to a production ship to be stationed off Tunisia.
The vessel was purchased in June and will be re-christened with the name Ikdam when Brøvig takes possession in January and dispatches it directly to Malta for conversion. By late spring 2001, the Ikdam will begin fulfilling a five-year contract in the service of Coparex Netherlands B.V., operator of the ISIS oil field off Tunis. Ikdam will be the third production ship flying the Brøvig colours. The others are Crystal Ocean and Crystal Sea.