Grup Servicii Petroliere (GSP) is completing its fleet with a new support vessel: “Lady Elizabeth”

July 1, 2007

GSP is under final negotiations for the long term charter on a Bareboat basis with purchase options of the ME202 “Lady Elizabeth”, a PSV of 3,000 DWT that is currently working in the North Sea oil fields. The vessel is to be purchased by a Norwegian company and delivered into GSP’s charter immediately after delivery under the MoA.

The vessel is intended to support the drilling operations of GSP’s Jupiter rig in the Romanian Black Sea, under a contract with Petrom -OMV.

This ship will increase the total number of support vessels in the Black Sea to 6 vessels, all being owned or under the long term charter of GSP.

GSP already owns a fleet of five vessels. Among them there are two class 1, DPS2 offshore support vessels, towing/anchor handling, fire fighting and antipollution vessels, built in 2005 and respectively 2006, Active King and Active Queen; two tug and supply vessels, Licorn and Perseu; a passenger and supplies vessel, Phoenix. Granit, a floating crane of 100 tons completes GSP’s fleet.

General Information:

GSP provides offshore drilling and drilling related services. The professional experience of the company’s over 700 employees led along time to great successes in offshore drilling. GSP is a company with 100% private share capital.

GSP contributed and continues its endeavors to the exploitation of the submerged fields of oil and gas in the Persian Gulf, on the Romanian continental shelf, on the Greek continental shelf, the Turkish and Bulgarian continental shelves.

Further Information:

Radu Petrescu
Tel.: +40 2317014, Fax: +40 2319192
radu.petrescu@gspdrilling.com

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