Ship Management Contract

21 May 2014

SeaEnergy PLC

SHIP MANAGEMENT CONTRACT

SeaEnergy PLC, the innovation-led offshore energy services business, is pleased to announce that its recently established subsidiary SeaEnergy Ship Management Limited (SEASM) has been awarded the ship management of its first vessel.

The MV Surf Ranger is a subsea support vessel, formerly the MV Seisranger, which has recently been acquired by Surf Ranger Limited a subsidiary of Otto Marine Limited (Otto) of Singapore. The vessel which is flagged in the Marshall Islands has recently arrived in the U.K. sector of the North Sea where it is operating under charter and deployed on subsea support to exploration and production operations. The vessel has a crew of 20.

The SEASM team is responsible for the management of the vessel's crew, provisions and technical support.

SEASM and Otto are also in discussions with regard to the ship management of other Otto vessels which may be operating in the North Sea and Europe in the future.

Commenting on the contract award, John Aldersey-Williams, Chief Executive said: "We are delighted to have been awarded our first ship management contract. The SEASM team, led by Rennie Cameron have a wealth of experience in this sector providing professional, cost effective and efficient management skills that ensure the safe and efficient running of vessels, specialising in dynamically positioned vessels".

Notes

About SeaEnergy PLC:

SeaEnergy PLC is an innovation-led offshore energy services business, based in Aberdeen, Scotland and listed on the London Stock Exchange's AIM Market. The Group's three active divisions comprise of R2S, Consulting and Marine. R2S provides photographic capture and three dimensional modelling of oil & gas installations, linking these images to asset management databases for major international oil operators, allowing them to improve the performance of their assets whilst providing operational efficiencies. The Consulting division delivers strategic support for companies in offshore energy, helping them to improve asset integrity, reduce costs and improve output. The Marine division offers ship management services for offshore vessels in both oil & gas and offshore wind roles.

About Otto Marine Limited:

Otto Marine Limited is a shipping focused offshore marine group. Otto owns and operates one of the largest fleet of offshore support vessels with a worldwide presence, complemented by a technically proven shipyard located in Batam, Indonesia which provides ship repair, maintenance and conversion to both our fleet and third party customers.

Otto vessels are deployed globally in the major offshore oil and gas markets, providing quality service and support to national oil companies, international oil majors and other upstream players, with the broader objective of providing global energy solutions.

About MV Surf Ranger:

The vessel was built in Norway in 1993 and converted to a dedicated DP2 subsea IMR and ROV survey vessel in 2001. It was fitted with a 60T AHC offshore crane in 2012 when it was substantially upgraded and modernised and has a helideck.

The Surf Ranger is 85.4 m in length with a 20m beam. 

For further information contact:

www.seaenergy-plc.com

www.seasm.com