Norwegian offshore vessel owner Island Offshore has secured a contract to support the installation of a new gas
pipeline in the Mediterranean.

The company's deep-water installation vessel Island Victory will carry out the installation of a complete mooring
spread for a floating storage regasification unit (FSRU) during the coming autumn.

The scope of work includes the installation of a complete underwater restricted catenary mooring system (RCM),
“as built” survey, flexible riser installation, PLEM, spool and umbilical installation comprising mobilization of an
HLS lay spread on board.

According to Island Offshore, the duration of the contract is expected to be 90-120 days. The Norwegian
company did not reveal the name of the client.

“We are delighted with this contract for Island Victory's new and important customer. It is also the first time we
have an HLS lay spread installed on board, which further expands Victory's already well-reputed track record,”
said Hallgeir Linge Reitan, Head of Chartering at Island Offshore.

Island Victory has also secured work for the second half of 2024 when it will return to the Gulf of Mexico to work
for Subsea 7. Its activities involve complete mooring installation at a U.S. floating production and storage system
(FPS) and associated underwater construction work in ultra-deep water.

The engagement is fixed for 120 days and includes options. Since its delivery in February 2020, the vessel has
been chartered by Subsea 7 for approximately 740 days.