JULY 9, 2013 — Ceona has finalized an agreement with Germany's Lloyd Werft for the construction of a large multi-function, dynamically positioned construction vessel, the Ceona Amazon. At the contract signing ceremony in Bremerhaven, members of the Ceona management team, led by CEO Steve Preston and Chairman John Smith, were joined by a representative from majority shareholder Goldman Sachs Capital Partners.

The Ceona Amazon has a large under-deck storage capacity for line pipe or umbilicals, together with a deck area of 4,600 sq.m. The vessel is fitted with two 400 tonne heave compensated mast head cranes,and a single 30 tonne heave compensated knuckle boom crane. The pipelay system consists of an inclined lay system with a top tension of 570 tonnes and a rigid pipeline firing line system. The vessel can lay rigid pipelines, flexible pipelines and umbilicals, and can install large subsea structures using one or both of its 400 tonne cranes in tandem lift mode.

The vessel's specifications are summarized below:

• Large under-deck and deck area
• High transit speed
• Versatile crane arrangement
• Long endurance
• Heavy lift capacity
• On-vessel pipeline fabrication
• Rigid pipelay in remote locations (no spool base required)

With detailed design work well under way and major subcontracts placed already, work will now progress on the fabrication, construction, outfitting and commissioning of the Ceona Amazon. Keel laying is planned for August 2013. Fabrication of the hull will take place at Polish shipyard CRIST S.A., and the vessel will then be outfitted at Lloyd Werft Bremerhaven. The vessel is set to enter service in December 2014.

Lloyd Werft's Ruediger Pallentin and Carsten J. Haake, who put their names to the contract, spoke of their excitement at tackling the logistical challenges posed by the multifunctional vessel's construction. "As an international frontrunner in the building of highly specialized ships, we are well-placed to meet such challenges," said Mr. Pallentin.

The Ceona Amazon, based on a drill-ship design, is SPS compliant and equipped with a DP2 system. It will be especially well-suited for operations in remote and challenging locations and capable of laying rigid or flexible pipelines and umbilicals.

Ceona's CEO, Steve Preston, commented: "We are very happy to sign on the dotted line here in Bremerhaven with Lloyd Werft, and look forward to seeing the Ceona Amazon take shape. It's a fantastic vessel and we are now focused on putting it to work following its completion in late 2014."

Lloyd Werft will deliver the vessel to Ceona in October 2014, prior to final installation work which will be carried out by Huisman in the Netherlands.

Overall Length: 199.4 m
Breadth: 32.2 m
Operational draft: 7.5 m
Gross tonnage: 33,000 t
Transit speed: 15 knots
Dynamic positioning: DP2
Thrusters: 7 No
Generator power: 28 MW