The survey operations include exploration of the bottom sections and of the subsea strata using the HUGIN 1000 for 3000 Autonomous Underwater Vehicle. GSP Prince’s advanced technical features allowed the survey to be performed using a fast and economical method of recording underwater sound velocity with the aid of the compact high-speed UnderwaySV winch developed by Oceanscience (USA) and the RapidSV underwater sound velocity recording profiler made by Valeport of the UK.

An innovation to the bottom profiling method employed, has been the use, in combination with the RapidSV sound velocity rate sensor, of the cantilever-type spool that makes it possible for the probe to plummet practically in the free-descent mode as the cable unwinds. The sensor descends in the water at the speed of up to 5 m/sec and reaches the depth of 1,000 meters in a mere three to four minutes time. At the same time, the winch has a high wind-up speed, which makes it possible to raise the sensor quickly. As a result, a record-breaking reduction in time has been achieved in bottom profiling while maintaining a persistent high quality of the data collected.

The beneficiary of the deep sea survey, the Russian engineering company PeterGas LLC, declared more than satisfied with the GSP’s vessel performance, the speed of data collection and with the high quality of the data obtained.

GSP Prince, IMR & Survey information:

GSP Prince, IMR & Survey DP2 Offshore Support Vessel specializes in performing sub-sea duties such as ROV operations (pipeline/route survey), bottom mapping, sub-sea installation works, diving and intervention support, mother vessel for AUV/UUV operations, geo-technical investigation survey. The vessel meets the latest environmental criteria while ensuring acoustically quiet operations at survey speeds. The vessel supports the marine operations and offshore construction activities DP2 Divers & ROV Survey Offshore Support Vessel, DnV +1A1, SF, E0, DYNPOS AUTR, CLEAN, COMF-C3-V3, HELDK-SH, NAUT OSV (A), DK(+), ICE-C Built in 2009, Baatbygg Shipyard, Norway. GSP Prince carried out operations within key regional offshore construction projects such as the  DLS Project (Black Sea, Russian Federation, the ultimate client being Gazprom), Akcakoca Gas Field Development Project (Black Sea, Turkey, for TPAO) and Galata Project (Black Sea, Bulgaria for Melrose Resources).

More information about GSP Prince here: http://www.gspoffshore.com/the-fleet/vessels/imr/gsp-prince

South Stream Information:

The offshore section of South Stream runs across the Black Sea, connecting the compressor station on the Russian coast at Beregovaya with the Bulgarian coast in the city of Varna. The 900-kilometre (560 mi) long offshore section will reach the maximum depth of approximately 2000 meters. The offshore pipeline is planned to carry 63 billion cubic meters (2.2 trillion cubic feet) of natural gas per year. The South Stream project alone will result in over 1,800 km (phase 1) of new pipeline and significant subsea work. South Stream ppipeline sections in Serbia, Hungary, and Slovenia will have capacity at least 10 billion cubic meters (350 billion cubic feet) per year. At least two gas storage facilities would be constructed of which one would be an underground storage facility in Hungary with capacity of minimum 1 billion cubic meters (35 billion cubic feet) and another one in Banatski Dvor, Serbia with capacity of 3.2 billion cubic meters (110 billion cubic feet). The South Stream project is aimed at strengthening the European energy security. It is the key project in the diversification strategy for gas supply routes to the EU. The South Stream gas pipeline will ensure a direct connection between hydrocarbons suppliers and consumers thus raising significantly the energy supply security on the entire European continent. The construction is scheduled to start in 2013, and the first gas supplies being expected for 2015.

Grup Servicii Petroliere (GSP) general information:

GSP, member of Upetrom Group, provides a wide range of integrated services in the following business areas: offshore drilling, offshore constructions support vessels, well services / P&A / decommissioning, hydro-technical construction, engineering, subsea installation, offshore windmill construction & installation, and training. The company controls a high quality fleet of diversified onshore and offshore assets enabling the group to offer turnkey solutions. With more than 1500 employees the company is headquartered in Constanta, Romania, the location providing access to a fast growing offshore market. GSP has also subsidiary offices in Moscow, Rotterdam, Aberdeen, Dubai, Mexico, Alma Ata, Tunis, Oslo, Valetta, Limassol, and Tripoli. GSP’s HSEQ Integrated Management System is certified as being fully compliant with ISO 9001, ISO 14001, BS OHSAS 18001 and ISM Code requirements. FPAL has audited our HSE MS – scored 9.1 from a maximum score of 9.4. GSP is member of the International Association of Drilling Contractors (IADC), International Well Control Forum (IWCF), and International Maritime Contractors Association (IMCA).

PeterGaz LLC general information:

PeterGaz is an engineering company whose main fields of activity include engineering design of hydrocarbons production/transportation facilities, performance of offshore and onshore surveys, engineering design approvals with the respective RF government authorities, processing of appropriate authorizations for construction projects, and construction management as project manager/developer or EPC contractor.

• IWCF Introductory Rotary Drilling Well Control
• IWCF Rotary Drilling Well Control – Surface BOP Stack.

 GSP Training Center was established in 2009 and is equipped with the DrillSIM-6000 capable to offer full Well Control training and training in Cyber Base operating controls. The training center aims is to broaden the skill base for both professionals and companies activating in the offshore oil & gas industry.

The main aim of the “Oil & Gas 2011″ exhibition is to attract maximum attention to the vast opportunities of Ukraine as a key transit country in Europe, to show the prospects of oil and gas industry reforms, to interest foreign partners.

The event hosts annually more than 160 exhibitors from 20 countries take part in the exhibition. These are transnational companies and their representative offices, leading European, Russian, Chinese and Ukrainian enterprises of fuel-energy complex. GSP`s experts will be present at the stand, introducing GSP’s  latest services and fleet development strategy to the interested public.

For more information on “Oil & Gas 2011“, please visit www.offshore-energy.biz .

The companies within UPETROM GROUP have activities in onshore and offshore drilling, offshore construction, oilfield equipment production, design engineering, as well as in the tourism sector. Today, UPETROM GROUP has 3000 employees and is operating worldwide with representative offices in Romania, The Netherlands, United Kingdom, Russian Federation, Canada, United Arab Emirates, Norway.

The reputation of UPETROM GROUP is based on key elements of competent and enthusiastic personnel, supported by progressive quality of our services and products, ensuring the most efficient service to our clients.

The high quality services and customers’ satisfaction are our priorities. We meet the customers’ quality requirements with responsibility and professionalism. Working according to international standards and having full control of costs, our partnership is successful for both parties. UPETROM GROUP success means its partners’ success.

Offshore Energy focuses on the international offshore oil & gas and energy market and is the only dedicated offshore energy event on the Netherlands which combines an extensive exhibition with a conference program on the latest developments and latest markets in offshore.

The exhibition will host more than 300 international operating companies . GSP`s experts will be present at the stand no 176, introducing GSP’s  latest services and fleet development strategy to the interested public.

For more information on Offshore Energy 2011, please visit www.offshore-energy.biz

GSP provides ROV and ROV crew, subsea compensated crane and marine crew for the South Stream project. GSP Prince is mobilized to provide services for an estimated six months period under a contract with one of the contractors, Peter Gas.

GSP Prince, the DP2 Divers & ROV Survey Offshore Support Vessel is specialized in performing sub-sea duties such as ROV operations (pipeline/route survey), bottom mapping, sub-sea installation works, diving and intervention support, mother vessel for AUV/UUV operations, geo-technical investigation survey. The vessel meets the latest environmental criteria while ensuring acoustically quiet operations at survey speeds.

GSP Prince has completed the mobilization in Midia and headed towards Varna on the 30^th of August.

GSP Fortuna is an ABS class three legged independent leg cantilever jack-up rig reaching the maximum drilling depth of 25.000 ft and the maximum water depth of 300 ft. GSP Britannia is an ABS class four legged independent leg cantilever jack-up rig reaching the maximum drilling dept of 20.000 ft and the maximum water depth of 200 ft.

GSP Britannia will support the company’s Decommissioning and Plug and Abandon services in the North Sea. GSP provides cost effective, safe and efficient P&A services for the North Sea. Decommissioning has become a highly demanded service as more and more offshore fields are reaching the end of their lives.

GSP is the single source decommissioning solution providing a full range of engineering and decommissioning services as well as turnkey solutions with focus on safety and environmental preservation. Our company`s expertise is sustained in this by the most rigorous HSE standards, which GSP uses in all its projects worldwide.

GSP also operates an extended and modern fleet of construction and heavy lift vessels as well as a large variety of offshore support vessels, SAT diving & ROVs to fully answer the offshore integrated services market demands worldwide.

Falcon is a highly versatile DNV classed pipelay vessel, 153 meters long, capable of installing rigid pipelines up to 14 inch diameter and also flexible flowlines and umbilicals.

GSP expects to take delivery of the vessel in September 2011. The vessel will be renamed GSP Falcon.

GSP has signed an exclusive 5 year deal with Bibby Offshore for the provision of diving and tie in services in North West Europe. In other markets GSP will bid alone.

The vessel is currently available from September onwards.

Information on Subsea 7 can be found at www.subsea7.com

Information on Bibby Offshore can be found at www.bibbyoffshore.com

The offshore mobile drilling rig enters under a new contract in Tunisia.

GSP was awarded a contract for offshore drilling services by NUMHYD a.r.l., on the Tunisian continental shelf in the Southern Mediterranean Sea.

GSP Vega, AHTS, and GSP Perseu performed the rig transport and positioning operations.

GSP Saturn previously completed the contract under which the rig provided offshore drilling and well intervention services at the Prinos Platform for Energean.

GSP, General Information:

GSP is a member of Upetrom Group and is headquartered in Constanta Harbor, Romania.

GSP is the leading Oil&Gas services provider in the Black Sea area. The company operates a fleet including five mobile offshore drilling rigs, a modular drilling rig, ten offshore support vessels of different types, a fleet of technical vessels including a DP3 pipelay barge, the largest heavy lift crane barge in the Black Sea, heavy lift semisubmersible and offshore work and accommodation barge as well as a fleet of heavy duty and inspection class ROVs, and a 300 MSW saturation diving system.

The companies within Upetrom Group have activities in onshore and offshore drilling, oilfield equipment production, design engineering, as well as in the tourism sector. Today, Upetrom Group has more than 5000 employees and is operating worldwide, with representative offices in many countries.

GSP has recently completed the works for the Dzhubga-Lazarevskoe-Sochi offshore gas pipeline project. GSP has been the contractor of the offshore works, including installation of the submarine pipelines (159.5 km), welding, nondestructive testing, inspection, pipe transport, installation of five shore approaches in Dzhubga, Novomikhailovskoye, Tuapse (two onshore pipeline approaches) and Kudepsta, pipeline tie-ins, ROV operations, surveys, trenching and pipeline hydro-testing.

Further Information:

Sanda Gabriela Murtaza

Grup Servicii Petroliere

Tel.: +40 241 555 255, extension 2161

E-mail: sanda.murtaza@gspoffshore.com