SeaMetric International AS
19th December 2007
SeaMetric International AS, located in Stavanger is listed on OTC in Oslo (ticker: SEAM).
SeaMetric International AS offers marine heavy lift and transportation services for the oil & gas industry.
The Twin Marine Lifter system will have a static lift capacity of 20.000 tonnes and a capacity of 18.000 tonnes in Hs=2,5 meters (4,5 meters peak).
Office Address:
SeaMetric International AS
Løkkeveien 99
4008 Stavanger
Norway

Telephone: + 47 51 20 16 20
Fax + 47 51 20 16 39
e-mail:
web: www.seametric.com / Press Release
SeaMetric signs agreement for the first TML System
SeaMetric has signed a Memorandum of Intent (MoI) with CNOOC Offshore Oil Engineering Company (COOEC) for utilization of the first Twin Marine Lifter (TML) system. COOEC is a subsidiary of CNOOC (China National Offshore Oil Corporation), a company with 45.000 employees.
Under the MoI, SeaMetric and COOEC will establish a new, jointly-owned Operating Company for the TML System which will be delivered in September 2009.
“This partnership is an excellent strategic step for SeaMetric and COOEC and will secure utilization of the first TML System for several years.Together with our financial advisers, SEB Enskilda and Pareto Securities, we will now work to complete financing of the TML System” says SeaMetric Managing Director, Johan F Andresen.
SeaMetric was founded 2000 to develop a cost-effective and environmentally-friendly marine heavy lift system – since then SeaMetric has developed the Twin Marine Lifter for installation and removal of very heavy objects.
SeaMetric has been in discussions with COOEC since May this year. In the Upstream issue of 20th July 2007, Mr Jiang Xizhao, President of COOEC, was quoted as saying “COOEC is in talks with Norway’s SeaMetric to operate or manage the world’s first Twin Marine Lifter System”.
Initially the new company will operate in the North East Asia Pacific region. Preparations for the new company will start immediately in order that it is fully established by 1st December 2008. In addition to providing the TML System, SeaMetric will contribute with Operational Management and specialist engineering expertise.
COOEC currently constructs and installs platforms for CNOOC and international oil companies and has ambitions to expand internationally. In addition to 6 offshore fabrication yards in China, COOEC also operates several lifting vessels, barges and other support vessels together with subsea operational capabilities. For more information on COOEC: www.cnoocengineering.com.
ESSCA, SeaMetric’s Main Contractor for the construction of the first TML system in China, has facilitated this agreement.
For further information please contact Robert N. Browning,
Director Commercial Services, SeaMetric International AS at or
telephone +47 51201620/48017881.