Fincantieri and NLI Signed an Important Collaboration Agreement

Fincantieri and NLI signed an important collaboration agreement

The shipbuilding giant Fincantieri Cantieri Navali Italiani S.p.A. and NLI, a Norvegian total supplier to Oil & Gas business, announced the signing of a collaboration agreement, supporting the aim to penetrating the Mobile Drilling Units construction market.

This agreement includes the development of an innovative high quality drilling tower.

For NLI the partnership is a milestone. In 1974 they delivered the first derrick to the Norwegian offshore industry. Most recently they have developed a drill tower solution new to the global market. With this Italian-Norwegian partnership NLI sees a great opportunity to reach out with their innovative solutions.

From now on the parties will include each other when approaching the market and present their projects to the various contractors and operators / oil companies.

This important agreement follows the recent creation of the new Fincantieri Offshore Business Unit, dedicated to the commercialization and production of high valued offshore vessels such as Drill ships, Semisubmersibles Drilling Rigs, Pipe Layers, Construction Vessels and Non Standard Supply Vessels.

The Fincantieri Offshore value proposition is based on the offer of new generation turn-key vessels, tailor made to meet specific client requirements.

Mr. Sigve Barvik, Marketing Director of NLI commented: “We now have a yard, with financial power and world class know-how, which is prepared to support the potential of our drilling tower. Fincantieri’s European deep-water drilling initiative is unique and will allow to fully develop a drilling tower with superior performance, efficiency, eco friendliness, and safety for the personnel”.

Commenting on the agreement, Mr. Giuseppe Coronella, EVP Fincantieri Offshore Business Unit said: ”We are very motivated to start this joint development process with a company delivering quality drilling and topsides engineering solutions. this will strengthen the capability of the established Fincantieri’s drilling supply chain, the “Polo Offshore”.

Contacts:

· Antonio Autorino - Head of media relations Fincantieri - Tel. +39 040 3192473.

· Andrea Piantini - Commercial Dept. Fincantieri Offshore - Tel. +390403193931.

· Sigve Barvik, Marketing Director NLI, +47 948 54 510

______

Fincantieri

Fincantieri is one of the world’s largest shipbuilding facilities. The company is world leader in cruise shipbuilding, a reference operator in the large ferry sector and boasts a considerable orderbook in the military field. It is also active in the sector for mega yachts of over 70 meters long, in ship components and ship repairs and conversions. Headquartered in Trieste, the company employs a staff of about 10,0 00 and has eight shipyards in Italy. Fincantieri operates in the U.S.A. through its subsidiary Fincantieri Marine Group (FMG). The company, which serves both civilian and government customers, including the U.S. Navy and Coastguard, hasthree shipyards all located in the region of the Great Lakes

www.fincantieri.it

NLI

NLI is a Norwegian total supplier to Oil & Gas business, supplying engineering and fabrication services, technology products and process solutions to the following market areas: Products & Developments, Engingeering & Technology, Subsea, Fabrication, Onshore & Industry. NLI has today 750 highly qualified employees, and had in 2011 a turnover of approximately 1,2 billion NOK.