EU & US Sanctions on Russia Not to Impact VSS Operations

The present EU and US sanctions are not expected to impact Viking Supply Ships’ operations and financials in 2014. It is too early to say whether sanctions will impact the drilling seasons 2015 and onwards.

Four of Viking Supply Ships’ AHTS-vessels, of which three with ice class 1A and one icebreaker, are currently operating offshore Russia in the Kara Sea. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling seasons are expected to commence around May each year. Viking Supply Ships is also contracted for consulting services related to the offshore operations in the Kara Sea for the years 2014 and 2015.