The vessel is firm committed with Tullow Oil, until April 08, with further options, and will be trading out of Great Yarmouth. We wish the Charterers and crew good luck with the vessel.

The medium size PSV of the UT 755 LN design will within a few weeks be delivered from the yard and immediately commences its charter with Total E&P UK Limited. The vessel will first complete the Charter MV Island Pride originally where fixed for, and will in may 08 commence a new 4 Years contract with Total E&P Limited, recently being awarded. Island Offshore are looking forward to build further on the already good long term relationship with Total.

The Island Empress will be delivered with a few new futures compared to other vessels of this design, and Owners are confident that these upgrades will gain the efficiency and the safe operation of the vessel. Apart for the Bessel being extended with three meters, the cargo rail has been improved, and engines upgraded with larger resilient mounted main engines with more powerful bow thrusters.

Island Offshore will utilize the vessel Island Valiant for the job. The work scope is similar to what was done on the Ormen Lange Project in 2005 and 2006 from Island Frontier.

Island Offshore has built a special tower system for safe and efficient deployment and retrieval of drill pipe through the moon pool.

The charter period is 31 days with option to extend to 60 days.

On Wednesday 26th. of September, Island Trader was delivered to her new owners Great Ship India Ltd. at Aberdeen. The vessel will be working for Apache in the North Sea for a period of one year.

The vessel is a large and sophisticated plattform supply vessel of UT 776E design. The vessel is similiar to the sister vessel Island Champion, but in addition the Island Challenger has full oil recovery facilities. The vessel will be working out of Stavanger. We wish here fair wind and good sailing.

Island Frontier, Island Patriot, Island Pioneer and Ocean Intervention III, have all been operating without any LTI`s the last 12 months. This is impressing and especially on our vessels with up to 180 persons onboard. We appreciate the hard work our seamen puts into doing the job safe!

The AHTS vessel of UT 712 L design is due to be delivered from the yard in September 2008, but the new Owners will immediately take over the new building contract with the yard.

The Purchase price corresponds to a vessel value of NOK 400 million.

Island Offshore christened their new vessel under contruction, MV Island Challenger at Brevik Construction on the 5th of July 2007.

The large PSV of UT 776 E design will within a few weeks be delivered from the yard and immediately commences its 3 years charter with Statoil. The Godmother of the vessel was Mrs Irene Rebnor Sangolt.

The vessel is a sophisticated anchor handler specially designed for deepwater operations, Compared to the sister vessel Island Vanguard, the Island Valiant is extended with 7 meters, and the accommodation capacity is increased to 60 persons.

Island Valiant has a permanently installed work ROV from Oceaneering and has equipment for deploying and retrieving large suction anchors and subsea modules safely through the moonpool. A 90 tons ahc subsea crane can be fitted to the vessel should this be required.

The amendment calls for provision of a second vessel from the 2008-season. This second vessel, (the Island Frontier), will from 2008 work together with the Island Wellserver for Statoil in the North Sea on the Norwegian Continental shelf. The approx. value of the Amendment is NOK 600 mill over 2 years.

“The Alliance consisting of Island Offshore, FMC Technologies, Inc. and Aker Kvaerner Well Service is proud to announce this milestone, and it clearly shows that our efforts and investments in this market segment have proven to be correct,” said Robert Friedberg, Managing Director of Island Offshore Subsea AS. “This Amendment will give us 2 vessels working in the North sea for Statoil, in addition to the Island Constructor that will commence contract for BP UK in July 2008.  By 2008, these 3 vessels will make Island Offshore the largest owner and operator of well intervention vessels in the world.”

“We strongly believe in further developing IOR (Increased Oil Recovery) of subsea fields by means of increased well intervention activity. This is further strengthened by the management contract awarded Island Offshore for the MARACC well intervention unit, a fifth generation semi submersible light drilling unit,  currently being built at Zhousuan Shipyard, China and ready for operation Q1, 2010. This unit will be purpose built to include TTRD (through tubing rotary drilling) together with Heavy Coiled Tubing Intervention work through Rigid Riser.”

The Island Champion is one of the largest Platform Supply Vessels working out of Aberdeen and will be transporting goods to installations West of Shetland.

After a 4 1/2 months conversion at Myklebust Verft, the Island Ranger was re-named Ocean Intervention III and commenced a 3 year charter with oceaneering in early May.

The vessel will perform clean-up work on downed platforms for BP using 3 ROV`s and the 70 ton crane in US Gulf of Mexico.

The rig will be delivered in December 2009 from COSCO Shipyard Group, China. Island Offshore has also entered into a management agreement with MARACC for supervision services, technical management, and operation of the rig.

The partnership strengthens Island Offshore’s position in the market for well intervention services.

The vessel is a sophisticated anchor handler specially designed for deepwater operations. The vessel has a permanently installed ROV from Oceaneering and has equipment for deploying and retrieving large suction anchors and subsea modules safely through the moonpool.