Eidesvik Offshore — Capital/Financing Update 2010

Nov 30, 2010

Eidesvik - the worlds largest provider of vessels powered by LNG

Eidesvik Offshore has entered into a contract to build

their fifth platform supply vessel powered by natural

gas. Eidesvik has been and, with this new vessel,

continues to be the worlds largest provider of

environemental friendly platform supply vessels

powered by LNG.

The vessel is specially equipped for operations in

northern areas and will provide 26 new jobs in the

company.

The contract is between an Eidesvik Offshore ASA

subsidinary company and Kleven Maritime AS.

The new building is a natural gas powered Platform

Supply Vessel (PSV) type: VS 489 LNG, 89 meters long

and 21 meters wide. The vessel is to be delivered 3Q

2012. Contract value is approx MNOK 440. The vessel is

designed for low fuel consumption. Earlier this year

Eidesvik ordered a similar vessel.