REM OFFSHORE ENTERS LONG TERM CONTRACT

Rem Offshore has entered into a long term charter agreement with Petrobras for the AHTS vessel Rem Balder. The value on the contract is between 215 and 235 mill NOK. In addition the contract also includes options of equivalent values.
 
Rem Balder is under construction at Kleven Yard, and will be delivered on the 1`st of march 2007