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.

Tags: Siem Offshore Inc, STX Europe