Troms Offshore AS’ Vessel Supports ENI at Marulk and Goliat Projects, Offshore Norway

Troms Offshore AS, a private shipping company operating offshore service vessels announced today that MV Troms Pollux started the 1st of September 2011 a long term contract to ENI Norway.

The contract period is 4 years firm, with 2 yearly options thereafter. Troms Pollux will support the ENI drilling program, first supporting Scarabeo 5 at the Marulk project. Thereafter the vessel will be deployed to the Barent Sea for support of Scarabeo 8 at the Goliat field.

Prior to the contract the vessel has been upgraded to meet charterers demand. The upgrade is mainly related to cold climate operations, including oil recovery and standby rescue functions. (Notations FiFi II, Standby Rescue, NOFO 2009, Deice and Deice C).

The Marulk field (PL122) is situated in block 6507 in the Norwegian Sea about 30 km southwest of Norne FPSO. Marulk consist of two formations, Lysing and Lange whisc both contains gas and condensate . The Marulk base case comprises production from the Lysing formation only. The recoverable reserves in Lysing are estimated to be in order of 70 MBoe.

The Goliat field is located in Production Licence 229 which was awarded in the Barents Sea Round in 1997. The licensing round was initiated by the authorities in order to increase interest in the Barents Sea as an oil and gas region. The discovery was made by the first exploration well in 2000. A total of five wells have now been drilled. The licensees of PL 229/229B are: Eni Norge AS (Operator) 65%, Statoil Petroleum AS 35%.

Source: Troms Offshore AS / Eni ,September 11, 2011;