Floatel Intl Stock

Floatel International Ltd is a Bermuda-based company engaged in the operation of accommodation fleet and construction support vessels (floatels). Floatel International owns and operates two DP semi-submersible accommodation and construction support floatels: Floatel Superior and Floatel Reliance. Floatels provide capabilities required for the development and maintenance of oil and gas fields. In June 2011, Floatel International Ltd placed an order with Keppel FELS for construction of a third semi-submersible accommodation vessel, due for delivery in early 2014. The Company operates directly three wholly owned subsidiaries: Floatel International AB which provides onshore operational support services and onshore supervision of the new floatels on behalf of the owner, Floatel Superior Ltd, which operates on the Norwegian Continental Shelf and Floatel Reliance Ltd, which supports operations in close proximity to other offshore facilities, as well as three indirect subsidiaries.