About Floatel International

Floatel International Ltd was established in 2006 and is incorporated under the laws of Bermuda. The vision of the Company is to own and operate the most modern fleet of accommodation and construction support vessels (floatels) in the world. The fleet is designed to meet the increased demands set by new challenging projects in deep water and hostile environments.  Floatel International strives to provide superior living standard and support services compared to the existing floatel fleet.

The Company has ordered two vessels from Keppel FELS Shipyard in Singapore. The first vessel “Floatel Superior” was delivered on March 18, 2010, 43 days ahead of schedule and commenced operation immediately on delivery. Floatel Superior is designed to meet the stringent rules and regulations for all year operation on the Norwegian Continental Shelf and is equipped with a triple redundancy class 3 dynamic positioning system (DP 3). It is the first new built floatel designed for the North Sea market for over 20 years.

The Company’s second vessel “Floatel Reliance” is currently under construction and is scheduled for delivery late 2010.  The vessel is designed for cost effective operations in moderate environment and is equipped with fully redundant DP 2 positioning system designed for support operations in close proximity to other offshore facilities.

The Company has established a subsidiary, Floatel International AB, to provide onshore operational support services and onshore supervision of the new building projects on behalf of the owner. The services provided also include marketing of the floatels to the oil and gas industry. Floatel international AB is located in Gothenburg, Sweden, and has a management team with extensive experience from the offshore construction and floatel service industry spanning more than 20 years.