Koil Energy Solutions Inc. (KLNG)

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Veolia Environmental Services invests in state-of-the-art marine vessel
12/10/2007

Veolia ES Industrial Services is pleased to announce the addition of the DSV MT-6016 vessel named the Swordfish to its growing Marine Services Group. Designed with cutting-edge technology, the new ship was custom-designed to allow Veolia Environmental Services to take on more complex sub-sea construction and dive-support projects.

Denis Gasquet
Chief Executive Officer of Veolia Environmental Services
"The Swordfish will be the fifth vessel in our Marine Services fleet and will strengthen our "deepwater" capabilities to serve offshore oil and gas customers in the Gulf of Mexico and around the globe."

He added:
"This strategic investment affirms our capacity to offer marine and sub-sea services that combine high-tech performance with safety."
The vessel is currently at port in Galveston, Texas, and will be deployed during the month of December. The Swordfish will initially be assigned to a contract Veolia Environmental Services has with Chevron's Houston-based hurricane restoration team working in the Gulf of Mexico.

Veolia ES' Marine Services Group, which includes a fleet of dive support vessels, undersea remote operated vehicles and highly qualified diver-technicians, is expected to grow from $7 million in revenue in its first year (2005) to well over $100 million in 2007.

The Swordfish was designed by Marin Teknikk and built by Kelven Verft in Norway. It was designed to maximize deck and work space for equipment, materials and supplies and is spacious enough to comfortably house over 100 diver-technicians and personnel.

Onboard the 103.7-meter-long Swordfish, crews will travel at up to 16 knots and take advantage of this cutting-edge technology, including a moon pool launch and recovery area, and a 150-ton, heave compensated crane designed to help keep loads stable even in heavy seas. The ship will also have a 1,000 foot-rated saturation diving system, which is currently under construction by VES Marine Services in Appleton, Wisconsin.

http://www.veoliaenvironnement.com/en/newsroom/20071210,2483.aspx