Fugro strengthens position in seismic market

Fugro has signed a long term charter agreement with Rieber Shipping ASA, Norway, for the vessel ‘Polar King’.

Fugro has signed a long term charter agreement with Rieber Shipping ASA, Norway, for the vessel ‘Polar King’. This vessel built in 2000, will be converted for 3D seismic acquisition and will be able to tow eight to ten long offset streamers (up to 9 kilometres length). The ship will be ready for deployment in May 2006. This charter is part of Fugro’s plan to partly replace, modernise and expand the fleet of six seismic vessels that Fugro currently deploys.

In the current strong and growing seismic market, it is Fugro’s objective to operate with a fleet of approximately eight ships, some owned and some chartered, as of mid 2006. Fugro has already placed orders for two sets of 3D streamers, one of which is for the ‘Polar King’. Fugro’s expansion plan for its fleet features the addition of modern seismic vessels that are efficient and economic to operate and meet the highest safety and environmental standards.

 


For further information:

Fugro N.V.
K.S. Wester, President and CEO
Telephone +31 70 311 11 22