GSP Orion (former Lady Elizabeth) arrived in Constanta

August 4, 2007

GSP Orion, a PSV of 3,000 DWT, is the latest GSP’s Naval Division acquisition. The vessel left Aberdeen on the 4th of August heading for GSP’s headquarters in berth 34, Constanta Port, where it arrived on August, 19th. The ship increases the number of GSP’s support vessels to six. The ship entered a contract with Petrom – OMV. GSP Orion will support the drilling operations of GSP’s Jupiter drilling rig on the Romanian continental shelf of the Black Sea. It will also perform supply transport in the Black Sea for Petrom’s production rigs.

The GSP’s Naval Division development strategy took into account the long term market tendencies in the offshore oil industry.

GSP Orion’s purchase integrates into the company’s acquisition strategy. For the next year, the list includes also a new class 1 DPS2 offshore support vessel, a new floating crane and a towing ship. On a longer prospective GSP intends to acquire a new passenger ship.

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 supply 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:

GSP’s Public Relations Department,
Tel: 0041 241 555 255, extention 161
Fax: 0041 241 555 257

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