Curierul - September 2011

C urierul www.gspoffshore.com september 2011

GSP Premiere the successful completion of a Coiled Tubing operation for Energean Oil & Gas GSP Jupiter and GSP Atlas over 2,100,000 work hours LTI Free offshore Construction: the way to Sakhalin

GSP extends its fleet with drilling rigs, GSP Fortuna and GSP Britannia and a construction vessel, GSP Falcon

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SUMAr GSP 2011 soccer championship

4 News 12 GSP extends its fleet 22 GSP, the Way to Sakhalin - Offshore Construction 26 GSP Premiere – the successful completion of a Coiled Tubing operation for Energean Oil & Gas 28 GSP Jupiter şi GSP Atlas have exceeded 2.1 million working hours with no LTI (Lost Time Injury) Breaking the limit www.gspoffshore.com

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30 Premiere: GSP entered the services market for wind turbine installation 34 GSP, the „greenest� Services Provider in Romania 40 The Eye of Water 45 GSP, upholder of Expo Carto Constanta 2011, the first national deltiology exhibition hosted in Constanta 46 Vega Summer Beach hosted the 2011 edition of the GSP Football Championship

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Ciprian Dudu, ROV pilot technician

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August

GSP, services provider for the South Stream project 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 30th of August.

August

GSP extends its fleet with two more offshore drilling rigs GSP announces its drilling fleet has been extended up to seven offshore mobile drilling rigs and a modular one. GSP Britannia (ex. Britannia) and GSP Fortuna (ex. G.H. Galloway) entered GSP’s fleet in August.

GSP Fortuna is an ABS class three legged independent leg cantilever jackup 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

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Offshore Europe is held every two years, the biennial conference and exhibition being by far the largest upstream oil & gas event in Europe.

The complex nature of today’s global oil and gas business was one of the main subjects in the spotlight as some of the world’s leading upstream industry figures gathered at this year’s SPE Offshore Europe exhibition and conference. The event brought together in 2011 1,500 exhibiting companies reflecting its global reach, 10% more than at the previous edition, in 2009.

GSP’s experts were present at the stand no 1A70, introducing GSP’s P&A and Decommissioning services offer as well as the latest projects, fleet development strategy, and extended operational capacity to the interested public.

August 17, 2011

Grup Servicii Petroliere SA (“GSP”) today announces buying the pipelay vessel Acergy Falcon from Subsea 7

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.

GSP Price

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.

September

Grup Servicii Petroliere announces its participation in SPE Offshore Europe Conference and Exhibition

August

GSP and AMEC Sign Cooperation Agreement

The event was held in Aberdeen, UK between the 6th and the 8th of September 2011 at the AECC venue. SPE

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Grup Servicii Petroliere SA (“GSP”) today announces its entry into an agreement with AMEC, the international engineering and project management company.

Under the terms of this agreement,

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GSP and AMEC will develop oil and gas exploration / production projects in the Black Sea area.

“We are very proud to have AMEC, one of the world’s leading engineering, project management and consulting companies, as our partners. We strongly believe this co-operation will strengthen the position of GSP and AMEC in the offshore construction market, to jointly offer integrated services for the benefit of E&P companies worldwide” declared Fanel Hahui, GSP’s CEO. Tony Cruddas, President of AMEC’s Growth Regions business said “We are delighted to be combining our leading engineering, project management and asset support capabilities with GSP’s strong local position in the oil and gas market to deliver excellent services for our joint customer portfolio in the new opportunities across the Black Sea”.

August

New contract for GSP Saturn The offshore mobile drilling rig enters under a new contract in Tunisia.

GSP was awarded a 65 days contract for offshore drilling services by NUMHYD, a.r.l. in the Southern Mediterranean Sea on the Tunisian continental shelf.

GSP Vega, AHTS, and GSP Perseu shall perform the rig transport and positioning operation. GSP Saturn provided offshore drilling services at the Prinos Platform for Energean.

July

New contract for GSP Jupiter GSP Jupiter entered under a new contract, providing offshore drilling services for Melrose Resources on the Bulgarian continental shelf.

The mobile offshore drilling rig will operate in the Kaliakra perimeter where GSP has been awarded a drilling contract for one firm well (and one optional).

GSP Orion, PSV, OSR capability (Oil Spill Recovery) under EMSA (European Maritime

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Safety Agency) coordination, will provide offshore supply services for the rig during the contract.

GSP Vega, AHTS, performs the rig moving and positioning on the new location.

July

GSP announces the completion and commissioning of the Dzubga-Lazarevskoe-Soci offshore gas pipeline project for Gazprom

GSP saturn

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GSP has became in 2009 the contractor and project manager for the offshore services package including the pipeline installation along the Russian continental shelf of the Black Sea, between DzhubgaLazarevskoe-Soci as well as for the pipeline tie-in with the Russia – Turkey intercontinental pipeline in Gorsky, Tuapse region. The total length of the gas pipeline is 177 kilometers, out of which 159.5 kilometers represent the offshore section. The pipeline route runs on the Black Sea bottom following the coastline (approximately 4.5 kilometers away from the coast) to the Kudepsta gas distribution station near Sochi. The 20-in (530 mm) gas pipeline will have an annual throughput capacity of approx 3.8 billion cubic meters.

GSP, the contractor of the offshore works, installed the submarine pipelines (159.5 km), including 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. The contract has been signed in 2009, the offshore operations started in early April 2010 and in June 2011 were completed the last works including the offshore pressure testing, dewatering, drying and trenching works.

GSP has provided the operational

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management of an extensive offshore fleet including two pipelay technical vessels, GSP Bigfoot 1 and C Master, a DSV & ROV support vessel, GSP Prince, as well anchor handling support vesels, offshore supply and crew transport, such as GSP Queen, GSP Vega, GSP Phoenix, to name only a few. GSP supplied the Triton XLR, Navajo Ĺ&#x;i Mohican ROVs and the technicians and operators for the subsea survey as well as the 300 msw rated saturation diving system and divers for the subsea works.

June

GSP, the Greenest Services Provider in Romania according to Green Business Index, 2011 GSP, an offshore integrated services provider, was nominated as the most environmentally responsible company in Romania in the category of the services providers.

For the second year, Green Revolution Association has organized under the patronage of the Romanian Ministry

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of Environment and Forests the Green Business Gala Index, awarding those ranked in the best positions out of the 260 companies participating in the 2011 assessment.

Mr. Constantin Gheorghe, GSP’s Chief HSEQ Officer declared: „Green Business Index is an excellent opportunity for the companies to learn better what can be done in the environmental protection field. GSP will continue to implement environmental projects, as we constantly assess the risks associated with our activities and find the best solutions trying to eliminate or mitigate them to an acceptable level. The company is determined to continue the investments in equipment and systems reducing the energy consumption, increasing the level of safety and avoiding pollution in the Black Sea.” Mr. László Borbély, the Minister of Environment and Forests declared: „The Ministry of Environment supports any initiative of this kind. Our role is to create the adequate legal framework and to provide funds for environmental programs we need so much. We all need to focus to allocate funds in the future to encourage the development of a green economy.”

The Gala was held in Herastrau Park in Bucharest. Representatives of Romanian institutions as well as those of the companies participating in the GBI assessment have attended the event, expressing their satisfaction for the support this free instrument offers in benchmarking the sustainability of their businesses.

June

GSP provides ROV and deep sea diving services for the Development of Kirinskoye Gas Condensate Field, Russia GSP has secured a new contract for subsea survey and divers’ services in Russia for JSC Mezhregiontruboprovodstroy (MRTS).

GSP will provide ROV and subsea services

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with divers, beginning in the second half of August.

GSP shall provide both personnel and equipment, the mobilization taking place onboard the offshore support vessel Toisa Paladin, DSV, in Singapore: a 25 members diving team, a 9 members ROV subsea survey team and two ROVs, Triton XLX and Mohican.

June

GSP Jupiter and GSP Atlas, over 1.000.000 LTI Free man/ hours The personnel onboard GSP Jupiter reports 1.100.000 LTI free work hours, the mobile offshore drilling rig achieving this excellent result while performing works on the Romanian continental shelf along the last two years. The result was highly appreciated by the client who acknowledged the importance of GSP’s performance.

GSP Atlas reports 1.000.000 LTI free man / hours. The mobile offshore drilling rig has achieved this high performance while working in the Persian Gulf.

Reaching this milestone onboard two offshore drilling rigs reflect the strong HSE culture of the crew and the high standards within the company.

June

GSP Atlas heads towards Mexico for a new contract The offshore drilling rig GSP Atlas has left Sharjah on the 4th of June onboard the semi-submersible barge Teal, heading for Dos Bocas, Mexico.

GSP Atlas shall join GSP Orizont and the two offshore drilling rigs are going to operate under a long term contract with Petroleos Mexicanos (PEMEX).

GSP Atlas shall reach Dos Bocas, Mexico, on the 27th of July.

June

GSP Bigfoot 2 was issued the Lloyd’s Register class certificate GSP Bigfoot 2 has been surveyed by

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Lloyd’s Register EMEA and having been found in compliance with the Rules and regulations for the Classification of Ships has been assigned the class +100A1 submersible pontoon, maximum operating depth 12.26 meters to bottom of keel, deck strengthened for 9.275 tons per square meter.

The new class certificate is valid until May 2016.

GSP operates an extensive & varied fleet and all types of vessels and rigs hold class certificates issued by classification societies members of International Association of Classification Societies (IACS).

Lloyd’s Register EMEA is among the world’s leading ship classification societies, setting standards of excellence and safety for the marine industry.

May

Grup Servicii Petroliere (GSP) announces the relaunch of its subsidiary in Rotterdam, the Netherlands GSP has chosen to develop the western and northern shores of the European Union as part of its core operational area, and in order to strengthen its local presence GSP is relaunching its subsidiary company in Rotterdam, The Netherlands.

GSP first established its Rotterdam office in 2009 under the name Worldwide Offshore Solutions BV. This office has since carried out engineering, project management and commercial functions for GSP. The Netherlands subsidiary is now 100% owned by GSP and has accordingly changed its name to GSP Offshore BV in order to strengthen the GSP Offshore brand.

GSP Offshore B.V. will continue to be managed by Kees Kerklaan, and will remain in its offices at Marconistraat 16 3029 AK, Rotterdam, The Netherlands.

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GSP extends its fleet Breaking the limit www.gspoffshore.com

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GSP`s strategy envisaged from the beginnings providing integrated services for offshore oil and gas industry with a focus on activities of interest to the most dynamic global markets. The company`s development concentrates on three areas: extension and upgrade of the fleet, diversification of services, human resources development.

These are long term measures that lead to achieving business objective.

The early stage limits of the activities on the regional market in offshore oil and gas industry are risk factors. Our activities are not restricted to one market: we rely not only on the regional demand. This kind of strategy would lead to business suffocation in the region! GSP is now a global service provider operating worldwide from the Gulf of Mexico to Sakhalin; development decisions are based on the three main areas ", said Gabriel Comanescu, GSP President, for Curierul GSP. Since its establishment, GSP has been on an upward path, the fleet was extended in order to support the diversification of the services and entrance on new strategic markets; all these helped the company maintain the accelerated speed into the top echelons of oil & gas industry, as well as increasing presence in offshore

GSP has signed contracts for the purchase of two offshore platforms and a construction vessel for submarine pipeline installation. Starting with the last quarter of 2011, these acquisitions will support operations that the company will conduct in the North Sea, a new strategic market for GSP.

construction and drilling segments. The drilling operations in the Black Sea, Mediterranean and Gulf of Mexico, offshore construction services expanding to the North Pacific, near the island of Sakhalin, with projects that include an innovative fleet for the Caspian Sea, GSP identified and exploited most profitable way to access the Western and Northern Europe markets.

Increasing the number of drilling rigs and construction vessels is a natural step, along with global operations expanding. GSP has signed contracts for the purchase of two offshore platforms and a construction vessel for submarine pipeline installation. Starting with the last quarter of 2011, these acquisitions will support operations that the company will conduct in the North Sea, a new strategic market for GSP.

GSP Falcon, pipelay vessel (Flex-lay & J-lay) Acergy Falcon, to be renamed GSP Falcon, has a dynamic positioning system DP 2 (DYNPOS ATUR) and is very versatile, being able to install both rigid and flexible pipes. DNV classified, the pipeline installation vessel is 153 meters long and 21 wide ???. Accommodation capacity is 141 people, top speed of 13 knots and has operating range of 90 days.

The vessel is able to install an average 3.40 km of subsea pipelines per day, allowing manufacturing line to make 276 joints of pipe sections with standard length of 12.2 meters

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GSP Falcon Type: Pipelay Classification: DNV + 1A1, HELDK, ICE-1B, DYNPOS ATUR General Description Type: Pipelay Classification: DnV + 1A1, HELDK, ICE-1B, DYNPOS ATUR Flag: Isle of Man Year Built: 1976, major upgrade and conversion into offshore construction vessel in 1994, rigid pipe lay system installed in 1996.

Principal Dimensions Length Overall (m): 152.85 m Length Overall with Ramp (m): 161.85 m Breadth (m): 21.35m Depth Main Deck (m): 12.50m Operating Draft (m): 7.5m (maximum) Gross Tonnage (t): 10385t Transit Speed (knots): 13 knots Endurance (days): 90 days on DP DP System DP Classification DP Class 2 (DYNPOS AUTR) Reference System DGPS, taut-wire, 2 x HiPAP (1 x 350 plus 1 x 500), 1 x fan-beam Power and Propulsion Main Engines Number (Main propulsion motors) 2 Type (Main propulsion motors) AEG Power (hp) (Main propulsion motors) 7000HP Generators Number 6 Type Wartisla 8V 28a with AEG generators (generator sets) Power (kW) 3000kVA, 6000V, 60 Hz Thrusters Number 7 Type Tunnel thrusters stern Tunnel thrusters bow Retractable azimuth thruster, aft Retractable azimuth thruster, midship Power (hp) 5 x 1305kW, 1 x 1200kW, 1 x 1540kW Location Tunnel stern thrusters (2), tunnel bow thrusters (3), azimuth aft (1), azimuth midship (1) Main Deck Deck Strength (t/m²) Main deck 1.5t/m², tween deck 1.5-6t

Capacities Fuel Oil (m³) 2166m³ Hydraulic Oil (m³) Fixed lubricating oil tanks Fresh Water (m³) 769t Ballast Water (m³) 2742t Accommodation Berths (No.) 141 Cabins (No.) 9 x 1 man cabins 48 x 2 men cabins 9 x 4 men cabins Helideck Type D value: 22.2mtow: 9.3tAlso cleared for EC 225 (11.0t), S92 (11.9t) Cranes Main Crane Capacity (t) 64t Manufacturer National Oilwell Operating Water Depth (m) 450m Location Main deck, starboard forward Main Crane Comments Three main cranes, deck machinery for mooring and two small cranes for miscellaneous work Auxiliary Crane Capacity (t) 22.5t port side main deck Location Port aft Auxiliary Crane Comments 290m WD Moonpool Moonpool (No.) 1 Dimensions (m) 7.20m x 8.20m Pipelaying System Flexible Lay: Carousel (No.) 1 Carousel Capacity (t) 1600t (depending on load spread) Rigid Lay: Accommodates pipelines from 4-inch to 12-inchPipe welded, tested and coated through a conventional horizontal firing line and overboarded via radius controllers and straightener and J-Lay ramp located at stern of ship ROV System ROVs (No. and type) 2 x workclass SCV09, SCV10 Operating Depth Rating (m) 3000 msw

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GSP took the first step in the future operations in the North Sea through acquisitions and cooperation with regional companies, to provide offshore construction services, installation of subsea pipelines and the decommissioning of offshore construction which reached the end of their lives . To make sure the vessel is used to the full potential, GSP has signed a five-year collaboration with Bybby Offshore. GSP and Bybby Offshore will conduct diving operations and pipeline connecting activities in Northern and Western Europe.

GSP extends its fleet with two drilling rigs, GSP Frotuna and GSP Britannia In the first years of existence, the main activities of the GSP were drilling and support services for fixed and mobile platforms. The services offered by the GSP have helped developing and optimizing the production of Builder Year Built Classification Flag Accommodation Max Drill Depth Max Water Depth Helideck Operating Conditions Storm Conditions Length Breadth Depth Ocean Transit Draft VDL - Operating Liquid Mud Drill Water Potable Water Fuel Oil Bulk Mud

hydrocarbons in the Black Sea and Persian Gulf.

Later, the operation area was extended and GSP became a constant presence in the Mediterranean. Currently, the operations of two offshore drilling rigs in the Gulf of Mexico marked the entrance into a new stage - GSP is now present in the most demanding global markets.

GSP will soon provide offshore drilling, offshore construction and decommissioning / P&A in the North Sea market with two drilling rigs: GSP Fortuna and GSP Britannia.

The purchase agreement was signed in August. The two offshore drilling rigs contribute to GSP`s goal of reaching the strategic targets set out in summer of 2007- joining the offshore services in the North Sea. GSP Fortuna is a three legged, selfelevating, cantilever Friede & Goldman L-780 Model II jack-up rig reaching the maximum drilling depth of 25.000 ft and the maximum water depth of 300 ft.

Astilleros Corientes SA, Buenos Aries 1984, upgrade 2011 ABS +A1 Self Elevating Drilling Unit Vanuatu 88 persons 25,000 ft / 7,620 m 300 ft / 91 m 70 ft diameter, rated for S-61 helicopter Wind speed 50 knots, wave height 50 ft Wind speed 100 knots, wave height 50 ft Technical Dimensions 180 ft 175 ft 25 ft 15 ft 2,070 st Capacities 1,923 bbls 10,797 cu ft 5,572 bbls 31,284 cu ft 1,393 bbls 7,821 cu ft 2,596 bbls 14,575 cu ft 4,000 cu ft

GSP Fortuna

55 m 53 m 8m 4m 1,878 mt 206 cu m 885 cu m 221 cu m 412 cu m 113 cu m

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GSP fortuna

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Bulk Cement Sack Material Derrick Drawworks Top Drive Rotary Pipe Handling Mud Pumps Shale Shakers Desander Desilter

BOP

Diverter Control System Choke & Kill Cementing Main Power Emergency Power Power Distribution Deck Cranes Legs Leg Spacing Spud Cans Jacking System Cantilever/Slot Derrick Skidding System Winches Wire/Chain Anchors

4,000 cu ft 113 cu m 2,820 sacks Drilling Equipment Dreco 160 ft x 30 ft x 30 ft, 1300 kips GNC Oilwell E-3000, 2000 hp input; Elmagco 7820-CL auxiliary brake Varco TDS-3, 500 tons National C375, 37½in opening, independent drive Manual 2 x National 12-P-160, 1600 hp each 1 x Upetrom 2PN1600, 1600hp 3 x Brandt Retro-FS tandem basket shakers Brandt Mdl SRS-3, 3 cones 28 cones 1 x 13-5/8in Hydril GK 5K annular; 1 x 13-5/8in Cameron U 10 K Double; 1 x 13-5/8in Cameron U 10 K Single; 1 x 21¼in Hydril MSP 2K annular; 1 x 20 ¾ in Cameron U 3 K Double.

1 x 21¼in diverter system with a 21¼in diverter spool with 2 x 12in outlets; two Demco 12 x 12 series V ball valves with Shaffer Model 9 x 7 hydraulic actuator.

Koomey Model 320-115X Type 80 with 32 x 11 gal bottles & two remote control stations 1 x 4.1/16in 10K choke manifold for H2S service with CIW hydraulic choke and choke control BJ cementing unit (third party equipment) Machinery 2 x EMD 16-645-E8 driving 1550 kW genset each; 1 x EMD 12-645-E8 driving a 1150 kW genset 1 x Caterpillar D-3408 driving 1 x 300 kW AC generator Ross-Hill SCR System with three generators control and 4 x 1800 A SCR bridges 3 x Skagit Model 363, 100 ft boom, 50 tons @ 30 ft Jackup Specifications Triangular 3 x 416 ft; Usable below hull 368 ft Longitudinal 115 ft, Transverse 120 ft 39.8 ft diameter x 20 ft high National electric drive rack and pinion Cantilever Maximum longitudinal skidding: ft 50’w/10’ extension beams; Maximum transversal skidding: ft 12’ either de of C/L Mooring Equipment 4 x Skagit JUW-075 single drum 4 x 2,430 ft x 1½in wirerope 4 x 6,600 lbs Stevfix

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GSP Britannia

GSP Britannia Mobile Offshore Cantilevered Self Elevating Drilling Unit 4 Legs Jack-up Breit Engineering Inc. Design D - 221 Redcar 1968 (cantilevered in 1984), upgrade in 2011 ABS MODU Vanuatu 104 Located Bow, Dim.75ft x75 Ft, Load Capacity 150 Lb/Ft2, Designed for Helideck Helicopter Type SIKORSKY s-61 Max Drill Depth Max: 20.000 Ft Max Water Depth Max: 200 Ft Technical Dimensions Length 224 ft Breadth 200 ft Depth 25 ft Rig Type Design Builder Year Built Classification IMO Certification Flag Accommodation

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Liquid Mud Drill Water Potable Water Fuel Oil Bulk Mud Bulk Cement Sack Material Derrick Drawworks Top Drive Rotary Mud Pumps Shale Shakers, linear Degasser

BOP

Diverter Choke & Kill Main Power Emergency Power Power Distribution

Deck Cranes

Capacities 1.865 Bbl / 10,797 cu ft / 206 m3 4.130 Bbl 680 Bbl 1.078 Bbl 3.900 Ft3 3.900 Ft3 3.000 Sacks Drilling Equipment Brown, Type Folding Mast, 160 Ft by 30 Ft Continental EMSCO Model C-2, Electric Motor 2 x GE752 DC, Rated input/output power max. 2.000 HP Varco TDS-3S with closed loop cooling system and PH-85 pipe handler rated at 45.500 Ft-Lbs continuous drilling torque, Rated Capacity 650 tons, WP 5000 PSI, Output power 1250 HP National G-375 Hydraulic chain driven from drawwork rotary countershaft, Rated Capacity 650 tons 3 pcs. x Continental EMSCO FB 1600 Triplex, Liner sizes available 6”, Drive motor DC GE752 - 752 HP, Max. WP 5.000 PSI, Supercharge pumps Mission Magnum 8x6x14, Drive Motor 75 HP 4 pcs. x Thule VSM 100, Design flow rate 1.400 GPM 1 pcs. x Thule VSM 300, Design flow rate 800 GPM Swaco Dresser, Feed Pump Mision Magnum 5x6x14”, Capacity 1000 GPM, Drive Motor 60 HP 1 x 13-5/8in Hydril GK 5K annular; 1 x 13-5/8in Cameron U 10 K Double; 1 x 13-5/8in Cameron U 10 K Single; 1 x 21¼in Hydril MSP 2 K annular; 1 x 20 ¾ in Cameron U 3 K Double.

BOP Handling System - Ingersoll Rand BHS50RA6-100-30, 4 Hoists, Safe Working Load 25 Tons Fixed Type Hughes KFDJ 500, Max. Bore 27½”, ID of insert packer 10/15/18“, WP 500 PSI Cameron, Nominal Size 3 1/16”, Max. WP 10000 PSI Machinery 8 pcs. x DG Caterpillar D-398, 600KW/860HP, 1200 rpm, 600 V, AC, 60 Hz 1 pcs. x DG Detroit, 765KW/1025HP, 1800 rpm, 600V, AC, 60 Hz 2 pcs. x Transformer 1250KVA, 440VAC, 60Hz; 1 pcs. x Transformer 300KVA, 440VAC, 60Hz; 1 pcs. x Transformer 150KVA, 220VAC, 60Hz. 1x Seatrax Series 60, Location Port Side, Boom Length 135 Ft, rated for 51,36 Tons at 20 Ft radius 1x Marathon Le Tourneau, Type PCM120, Location Starboard, Boom Length 100 Ft, rated for 45 Tons at 25 Ft radius 1x Unit Mariner, Location Cantilever Deck, Boom Length 75 Ft, rated for 16 Tons at 20 Ft radius

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Legs Jacking System Cantilever/Slot Winches Anchors

Jackup Specifications 4 x 324 Ft, Type braced triangle American Machine & Foundry Co(AMF) Bear-Loc hydraulic, 24 Jacks, Max. Jacking Load 20,998.22 Kips Cantilever Max Load / Reach 500 s Tons Mooring Equipment 4 pcs. Intercontinental SD200, Electric, 50 BHP/each, Rated pull 20 Mt Anchor: 4 pcs.(2 Danforth/2 Stevin), Weight 7,7 T Anchor Lines - 4 pcs., Type 6x36WS, Galv.IWRC, Dia.2�, 1.500 m

GSP- NEW SERVICE for the NORTH SEA Britannia GSP is part of the fleet specialized in decommissioning of fixed drilling and production platforms. This service has become one of the most requested services on a market where a large number of exploited fields were exhausted.

Although this category of services is a relatively new one, GSP has the ability to fully meet the challenges of the field.

GSP mobilizes for the decommissioning of offshore construction that reached the end of their lives, a fleet that includes: Three or four- legged offshore drilling rigs, of which the first to enter this market segment is GSP Britannia; Construction: GSP Bigfoot 2- semisubmersible barge, GSP Neptunfloating crane with capacity of 1800 tons, and a large fleet of AH tug- vessels and specialized ROV support vessels.

Underwater survey services and works ROV works: a fleet of high-powered robots properly equipped to carry out cutting, removal of the fragments of metal structures and services abandonment of wells. Underwater operations and inspections are carried out under conditions of maximum precision, at maximum operating depth

of 3000 meters.

Specialized personnel: for the decommissioning services and P & A of wells GSP mobilizes personnel with valuable experience in offshore construction, capable of achieving the specific objectives of any decommissioning project.

GSP is the best solution for the North Sea market for both turnkey decommissioning projects and for the full range of services.

GSP`s offer provides a package of services for the decommissioning projects market, that has as main objective achieving its purpose with maximum efficiency and optimum cost control, with strict control of all aspects of personnel safety and environmental protection.

The most rigorous HSE standards will accompany these activities, at the same level at which they are applied in all other fields in which GSP is currently running worldwide operations. GSP combines staff experience with the technology and the equipment performance, already confirmed by the industry, in order to provide the highest quality in offshore construction decommissioning.

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GSP provides specialized subsea services for the development of the Kirinskoye gas deposit, as specialized provider of underwater surveys, ROV and saturation diving works.

Thanks to the new integrative approach of the Russian energy sector, once the importance of the hydrocarbons deposits in the Northern country has been recognized for the country’s energy balance as well as for Russia’s international commitments as a natural gas supplier, the development operations of the hydrocarbon deposits in Sakhalin region were initiated. The Kirinskoye field development project must face particular challenges arising from its remote location: as the area is difficult to reach, the execution deadlines are very tight and the project is the first in Russia to be developed entirely subsea. To these challenges one must also add the constant presence of ice at least seven months a year, the difficulties in obtaining all the necessary certificates and the process of issuing the documentation.

Kirinskoye gas deposit is located 28 kilometers east of Sakhalin Island in Okhotsk Sea, Kirinskoye block. This will be developed as constitutive part of a much larger project, Sakhalin III. The gas deposit was discovered in 1992 and its exploitation is being

GSP provides specialized subsea survey, ROV and diving works for the development project of the gas deposit in Kirinskoye area. In order to achieve this, the company will also provide operational management of the DSV Toisa Paladin offshore support vessel.

developed an operated by Gazprom Dobycha Shelf.

The way the current projections indicate year 2035 an the one mankind will record double consumption figures compared to 2011 and the International Energy Agency estimates even tripled consumption figures for 2035, Russia’s efforts to ensure an increased gas production results more than natural.

The current natural gas consumption in Russia equals the cumulate consumption registered in Germany, France, Italy, Japan, China and India and the country exports only 30% of its natural gas production. For comparison, Norway exports 96% of the internal natural gas production.

The Russian market share is 19.6% of the natural gas production and the country has now the largest proven natural gas reserves. The second largest natural gas producer, the United States of America, has reserves estimates at 6.7 trillion m3 while Russia's reserves are estimated at 43.3 trillion m3.

In addition to the above figures, in order to better understand the growing importance of natural gas in the global energy balance, we must also say that the natural gas will very soon come to have, from 21% as the energy source currently occupies a share of 25% among other fuels. The specialists also predict that the natural gas demand will grow much fasters compared to other fuels, compared mainly with oil and coal.

GSP provides specialized subsea survey, ROV and diving works for the development project of the gas deposit in Kirinskoye area. In order to achieve this, the company will also provide operational management of the DSV Toisa Paladin offshore support vessel.

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GSP has mobilized specialized staff for the scheduled operations: saturation divers, ROV pilot – technicians, a joint team including 9 ROV specialists and 25 divers and diving technicians prepared to perform subsea works at the approximate 300 ft water depth. GSP has also mobilized two ROVs: a work class ROV – GSP Triton XLX and an inspection class ROV, GSP Mohican. The saturation diving

support class vessel Toisa Paladin mobilized in Singapore during the first half of August. Adept ship class ships in service with saturation diving and ROV (VSD) will be made available in Singapore in the first half of August.

GSP will provide the subsea survey and work services as a subcontractor, the client company being JSC Mezhregiontruboprovodstroy (MRTS).

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GSP ROV Triton XLX

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GSP Premiere – the successful completion of a Coiled Tubing operation for Energean Oil & Gas GSP announces the completion of the first well intervention operation carried out on the drilling rig GSP Saturn by the GSP Well Services team. The operation’s immediate results recorded and analyzed by the client when the operation was completed in June, proved very positive.

With this operation GSP opens a new chapter, successfully extending the company’s portfolio of upstream services.

After a preparation period, which included the specialized equipment purchase

and induction and further training of a carefully selected team of specialists, a detailed plan based on their experience and theoretical knowledge and a close follow-up, helped ensure success from the very start.

The discussions held prior to the commercial agreement took place in February. On this occasion, both the equipment and the possible solutions which GSP could offer were presented to the potential client, Energean Oil

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& Gas, who expressed its interest in a coiled tubing well intervention. In March, detailed discussions followed, and the team designated to assure the management of the intervention at PA 35 received detailed information about the well. Based on the received data, the intervention procedure was designed and submitted for the Client’s approval.

Further, the operations schedule showed GSP Saturn could conclude the works at well EA-H2, to move to well PA 35, this well being on the same platform, Prinos A, on the Greek continental shelf.

The modular well intervention equipment was delivered by Hydra Rig, the equipment supplier, in March, then thoroughly tested and received by GSP. Jon Hansen, Technical Manager, GSP Well Services, stated, at the operation’s completion: “Our well intervention team benefited from all the support of collaborators, both within GSP, and Upetrom Group Management. It would be inappropriate to mention some and leave out others, so I will thank everyone who had a hand in making our first job happen and those that continue to help us grow and improve ourselves.”

Billy Williams, Well Services Manager, added: “The Well Services Compartment is part of GSP’s Drilling Department.

Therefore, our most intense collaboration is with this department’s specialists. The two people who offered us both their support and guidance from the beginning are Iulian Zidaru, Special Operations Manager, and Vasile Nicolae, Drilling Superintendent”.

The team of technicians, operators and engineers in the Well Services unit stated that during the entire operation they had excellent collaboration from the crew of the mobile offshore drilling rig GSP Saturn. The crew provided the support necessary for the on board mobilization and demobilization activities as well as their support for the well intervention operation.

“Our well intervention team benefited from all the support of collaborators, both within GSP, and Upetrom Group Management. It would be inappropriate to mention some and leave out others, so I will thank everyone who had a hand in making our first job happen and those that continue to help us grow and improve ourselves.”

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Jon Hansen, Technical Manager, GSP Well Services

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GSP JUPITER

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GSP Jupiter and GSP Atlas have exceeded 2.1 million working hours with no LTI (Lost Time Injury) On June 27, the client of the services provided by the mobile offshore drilling rig GSP Jupiter recognized and rewarded the performance of registering over 1.100.000 man / working hours without LTI. The crew registered the performance due to the strong safety and occupational health orientation. The results were obtained during operation offshore Black Sea, on the Romanian continental shelf in about two years.

GSP Atlas reports at approximately the same date exceeding one million man / working hours LTI. The crew arrived at this result providing offshore drilling and workover services in the Persian Gulf.

These results speak by themselves about the strong HSE culture of GSP’s offshore drilling rigs staff and the standards the company observes.

"The Risk Management in any aspect is intended to protect the value, which is a key objective of compliance to the rules. On the other hand, Performance Management aims to increase value. The two fully reflect not only in the economic and financial results but in results such as the above mentioned data as well” told us Constantin Gheorghe, GSP’s Chief HSEQ Officer.

GSP atlas

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Premiere: GSP entered the services market for wind turbine installation

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GSP has shown particular interest in prospecting the market for onshore heavy lift installation services since the establishment, as the specialization level of the company personnel as well as the fleet of heavy lift cranes can facilitate the quick access in the first echelon of service suppliers. A very interesting market sector in the Dobrogea region is the establishment and the development of wind park projects.

Recently, one of the teams in the heavy lift department was involved in installation works: they have installed five wind turbines on sites Martifer 1 and Martifer 2, in Babadag area.

For the first project of the kind, GSP mobilized a six men team and an LG 1550 crane with lattice boom. The GSP Shipyard team carried out the works within this project for almost two months.

Martifer, the developer of the wind park in Babadag area, has a 260 hectares concession and a project designed for the development of a 48 MW wind farm. This project represents a first step in a more extensive program of installing 400 MW wind turbines by the end of 2012. Martifer Group invests an average 100 million Euros annually for wind power projects.

In Romania, according to reports dated June 2011, the power generation from renewable sources amounts 680 MW, out of which 572 MW produced by the wind turbines.

The five wind turbines installed by the GSP Shipyard team were made up of four column sections having different lengths and weights raging between 30 and 40 tons each. On top of the column of each wind turbine was installed an 82 tons drive train including the gearbox and the generator as well as the wind blades.

The installation works performed in Babadag area are a first for the onshore heavy lift services provider

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GSP Shipyard, both the team and the LG 1550 crane being mobilized for the first time in operations for the installation of equipment designed for the production of energy from renewable sources.

The relatively high difficulty degree of the installation works was enhanced by the fact that the operation represented a first. The work site is located 90 kilometers away from the operational base and headquarters of the heavy equipment division of GSP Shipyard, in Midia Port. The off-road operations on an unleveled terrain were a challenge during the repeated movement and installation – reinstallation of the 100 meters long lattice boom of the crane on each of the work locations. The total weight of the nacelle, the column sections and crane raised the problem of the ground resistance. Following the measurements performed by the beneficiary and the small additional interventions designed to extend the operation area at all the five work locations, the installation process went smoothly, allowing the access of the two support carnes for the installation of the lattice boom of LG1550 heavy lift crane.

Daniel Lungu, the coordinator of the heavy lift equipment division told us after the completion of the operation: “It was the first time both by the team and I have been involved in this type of operations.

The operations were carried out on a very difficult location, in a hillside area. The lattice boom reached in the end 100 meters and the process proved challenging on such an uneven ground. We were mobilized for works in a hillside region, very suitable for wind energy production but extremely adverse for our heavy lift equipment mobilized for the development of the wind farm.

For the readers who are already familiar with the activities we currently

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carry out in the heavy lift equipment division, we may say that for the installation of the drilling derrick onboard the offshore drilling rig GSP Saturn we used the same LG 1550 crane having a different lattice boom configuration and reaching only 91 meters in length, while the works we used the LG 1550 crane with a 100 meters long lattice boom in Babadag area. To install the lattice boom in this challenging environment and on a difficult terrain was the biggest challenge, putting to the test the skills and tenacity of the team. For the lattice boom installation we received the support of two smaller cranes. Ensuring the stability of the LG 1550 was also an issue the terrain being not one of the most suitable, provided the minimal site infrastructure and the remote location.

The worksite was accessible only on compacted gravel roads and the work surface needed to be extended at each of the five wind turbines’ locations. After installing the first wind turbine, the team managed to reduce to half the lattice boom installation time and the wind turbines installation as well, operations being carried out without problems each time. All operations were performed

with the highest regard to the existing procedures and work instructions, in regards of ensuring and monitoring the crane stability, observing the safety during operations.

We are highly interested in this type of operations, the moment of accessing the market of wind turbines installation services being the most favorable: in our region there are several wind farm projects in different development stages as well as many others at the very start.

The client declared to be very satisfied of working with us and especially satisfied by the performance of the crane operator and the very good technical conditions of the equipment. Given all this, we are confident that we’ll be recalled and our services will be required in future projects of this type.

We know that the Dobrogea region is considered to have the greatest potential in terms of electricity production from wind sources. We, at GSP Shipyard, already have a team specialized in this type of service and wish to be present there where demands for high quality heavy lift services manifest�, Daniel Lungu added.

Renewable energy production is gaining more and more ground in Romania, where investors are attracted by the still unexplored potential. Romania aims to cover at national level 24% of the necessary energy supply from renewable sources by 2020. Here we added the energy produced in hydroelectric units over 10 MW. Together with the large hydroelectric producing capacities exceeding 6300 MW, the amount of renewable energy produced in Romania at the moment, from renewable sources accounts for about one third. The European Wind Energy Association estimates that in 2020 the renewable power sources will represent 42% of consumption: 11% wind power, 27% hydro energy and 4% biomass, and our country will be the seventh in the EU. The first position will be occupied by Austria, with a share of 70%, and the last in the ranking Hungary, with only 11%.

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GSP, the „greenest� Services Provider in Romania GSP was nominated the most environment responsible company in Romania in the categoryof services providers, at the Green Business Index 2011 Gala. The event was organized by Green Revolution Association, under the patronage of the Ministry of Environment and Forests and took place in Herastrau Park, Bucharest.

We would be glad to see more and more companies participate in the Green Business Gala and learn better what can be done in the environmental protection field. GSP will continue to implement environmental projects, as we constantly assess the risks associated with our activities and find the best solutions trying to eliminate or mitigate them to an acceptable level. The company is determined to continue the investments in equipment and systems reducing the energy consumption, increasing the level of safety and avoiding pollution in the Black Sea.�

The amount allocated for environmental protection in the past two years are over 500,000 Euros, and the underlying motivation is the basic principle of sustainable development, through which we can develop businesses in an effective and safe way for the environment, thus

providing the capability to provide high quality services, according to the most stringent environmental requirements worldwide. Since 2004, when the GSP was established, there were performed more than 50 environmental protection controls, with no case of violation of environmental standards, either Romanian or international; our company always ensures compliance with all legal requirements and other applicable requirements, "said Constantin Gheorghe, HSEQ Director of GSP. Throughout its work, GSP aims to find and maintain a balance between business performance and environmental performance. Green Business Index 2011 Grand Prize winners showed environmental responsibility in all areas analyzed, ranking among the top ten in each category.

The overall scores showed clear

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environmental concerns integrated into coherent "greening" strategies of their business. Thus, we conclude that an integrated approach to environmental policy is in fact the key to sustainable companies.

Grup Servicii Petroliere took the 1st place in the Green Revolution ranking, for the following categories: • Environmental Impact – Service Providers • Use of Resources - Service Providers • Transportation - Service Providers The ranking was made upon seven categories : sustainable development, environmental impact, transportation, use of resources, green buildings, green procurement and waste management.

Implementing specific measures, the latest technology and efficient working procedures, well applied and backed by a constant educational effort, conduct to information, awareness and a responsible behavior, to help reduce the negative impact economic activity has on environment.

GSP, first place amog 260 participating companies Constantin Gheorghe said: „Implementing specific measures, the latest technology and efficient working procedures, well applied and backed by a constant educational effort, conduct to information, awareness and a responsible behavior, to help reduce the negative impact economic activity has on environment, so we can be within acceptable minimum limits of global environmental standards. Thus, GSP has implemented an Integrated Management System (ISM Code, ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2008), which contains specific procedures for the safe conduct of all activities, so as to provide a minimum carbon fingerprint. Also, by upgrading facilities (diesel generators, incinerators for waste desalinators, etc.) and drilling rigs equipped with equipment and facilities that meet the "0 Pollution" standards (all the water on board, including those from rain and melted snow is collected and treated on board in the modern facilities before being disposed of at sea) to ensure a minimal carbon footprint for the activities of the oil and gas industry. " „We are pleased to successfully conclude the second edition of Green Business Index project, the only free tool for environmental assessment in our country. In short, the GBI 2011 brought more participants, greater

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visibility of the project and even a new approach. The 2011 Green Business Index added value by refining the assessment and transparent information, " said Raluca Fiser, President of Green Revolution. The Green Business Index 2011 report was launched at the event, which contains an analysis of existing business on sustainable management in 2011 in Romania.

Information in the report were provided, centralized and processed from the 260 Romanian companies registered in the 2011 edition of the “green top” Green Business Index, between March 15th to April 29th, 2011.

Companies can quantify their efforts to protect the environment. The instrument created for this purpose, Green Business Index, reflects the openness of the local business environment to the green economy. The project is conducted by the Green Revolution Association with the support of Green Area Ecological Centre Association, under the high patronage of the Ministry of Environment and Forests.

Green Business Index (GBI), the green companies` top, has dual functionality. On the one hand, it helps companies to assess environmental impact and measures taken to protect the environment. On the other hand, for the public and the press it is a tool for monitoring companies' concern on environmental protection.

Data supplied by Romanian companies are collected, processed and centralized. The "Top 10" most environmental responsible

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companies results after the experts` analysis.

Later, the Green Business Index report is generated.

GSP, environmental responsibility GSP is a partner of the European Marine Safety Agency (EMSA) and operates at the border of the European Union with the Black Sea, the only vessel specialized for intervention in case of incidents or accidents resulting in overflows of hydrocarbons.

To set a target that in a year, following 4 million hours of work/man, under extreme conditions, to record no accident resulting in environment pollution and no accident resulting in persons injury leading to leaving the work place seems impossible. To succed in doing this is a great performance.

Grup Servicii Petroliere (GSP) demonstrates that the impossible can become possible.

This performance must be appreciated even more because its consequences are in favour of the reduction of the impact of human activities on the environment.

Environment protection represents a strategic concern for GSP even since the moment of the company’s establishment.

The assembly of development projects, purchase of equipment and rigs for the revamping of the existing fleet, the purchase and building of multi-functional or technical vessels, as well as the parcels of integrated services the company renders are consistent with this strategic object. „No harm to environment�. The efforts made by GSP in this direction are acknowledged by the contractual partners who, by their feedback, offer an objective instrument for the evaluation of the performances in the field of environment protection. The Integrated Management System implemented at GSP formulates environment objectives which are carefully monitorized and reached.

Grup Servicii Petroliere made additional investments besides what is necessary to observe the environment standards.

An eloquent example to illustrate the care for the environment of Grup Servicii Petroliere is that, at a total amount of 4 million hours of work per man, that there

occurred absolutely no accident resulting in environment pollution.

Fully aware of the importance of minimizing the carbon print, GSP administrates reasonably the consumption of energy on the basis of the evaluation of the impact of lighting on the environment and also implemented, at company level, an energetic management system for diurnal lighting, centred mainly on the use of natural light.

The energetic management for night lighting envisages lighting for safety and security.

As a supplier of integrated services for the marine industry of oil and gas, operating a diversified fleet and supporting offshore services by inland activities carried out in the three operation bases, GSP concentrates its efforts in order to accomplish the social, environmental and economic objectives, doing its best not to exceed the level reached at present in fields such as

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environment protection, occupational health and labour safety, personnel specialization and performance. By awarding the highest distinction for "Impact on the Environment” to the Services/Trading Department of Grup Servicii Petroliere SA, GBI acknowledges the company’s remarkable environment performance.

Grup Servicii Petroliere (GSP) was classified on the first place in the field of Sustainable Transportation, the activity department of Services/Trade. Within the company, the means of public transportation and the alternative means of transportation are used in a proportion of over 50%. The company’s car park is fully modernized.

Thus, all the means of transportation are equipped with the newest technologies in view of reducing the quantity of emitted pollutants. The aspects regarding the efficiency of the means of transportation

Constantin Gheorghe, HSEQ Manager at GSP, receives the prize for the most responsible company regarding the environment in Romania, from Mr. László Borbély, Minister of Environment and Forests.

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are also included in the internal standards.

Moreover, the company has also issued a plan for travel optimization, having a coordinator dealing with optimal travel schedules. Parallelly, Grup Servicii Petroliere also implementent a driver training program regarding the manner of economic driving in order to reduce the fuel consumption and emitted pollutants.

In order to assure the success of the implementation of its policy in the field of sustainable transportation, the company organized programes to inform the employees and make them aware of the sustainability aspects in this field. Thus, the employees were trained to apply the principles of sustainability in transportation and their feedback was integrated in the periodic adaptation of the steps. As a result, the employees are actively involved in the company’s policy of sustainable transportation.

Asked about the key factors that contributed to the reaching of this performance level and gettting on the first place in the classification of the companies in Romania, Marian Cârnat, ecology counsellor, declared: “First, GSP has implemented specific procedures of supplier selection, the selection criteria including also the certification per systems of environment management, as well as the quantity of packaging of the supplied products, the possibility of recycling the packaging or resulted secondary products, or of discards taking over by the supplier.

Besides, for the activities of purchase or products/materials/services, all the related environment aspects were identified and evaluated, and all the steps were taken to minimize them and their related impact.

Thus, we make sure that even from the beginning, the environment aspects are considered in view of minimizing/ eliminating the discards resulted from the processes of materials/services purchase, implicitly contributing to the minimizing of the impact on the environment.”

Regarding the implementation of clean, green technological solutions, Marian

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Cârnat declared: “The upgrading of the fleet and the implementation of green solutions did not envisage mainly the reduction of costs, but the reduction of the impact on the environment, especially considering the depreciation of the investments, which will be achieved in more than 15 years. Thus, if in the case of the upgrading of the diesel generators there is also a benefit related to fuel saving, the main benefit is the one of very low emissions into the air, and in the case of discard incinerators, the benefit is strictly related to the elimination of a large quantity of discards which finally arrived in the garbage pits, which are now incinerated in state-of-the-artinstallations, with minimum emissions into the atmosphere. A step that led directly to cost reduction was the implementation of a GSP monitoring of the car park, where a reduction of fuel consumption of approximately 20% was noticed, which has the advantage of cost reduction, but also the directly proportional reduction of emissions into the atmosphere.”

Marian Cârnat enumerated the efficient technologies from energetic point of view, which are applied within the company: “Among the energetically efficient technologies there are the full replacement of incandescent lighting appliances with ecological lighting appliances (a step implemented even since 2006), replacement of diesel generators (a step started in 2006 and finalized in 2009), implementation of the transportation management program (implemented in 2010).”

The yearly trainings in which all the employees participate contributed to the

The upgrading of the fleet and the implementation of green solutions did not envisage mainly the reduction of costs, but the reduction of the impact on the environment.

obtaining of this result; these trainings cover all the environment aspects related to the cpmpany’s activities and the necessary steps to minimize their impact on the environment. These contain, but are not limited to, energetic management programs, transportation management, dealing with office wastes, waste recycling, behaviour to support environment protection, both in the office and privately. Regarding the awareness and a responsible behaviour outside the company as well, this is achieved by information, and subsequently by the awareness of the importance of the recommended activities. The GSP personnel adopt consciously a good conduct in this very important field, as long as the steps implemented at the business location prove benefic, according to the principles of long-lasting development and environment protection, but the awareness is also reflected on the young people, by the support of ecology camps for pupils and students, where lessons are taught regarding the necessity of environment protection and the steps helping to accomplish this purpose. A very important role was played by the support and execution of informing – education campaigns organized by Saturn Foundation, together with the Mare Nostrum Foundation for the collection of waste oil and protection of the limited resources of drinking water, for the collection of paper for recycling.

The involvement at company level in the support of some information events at the level of the community in which it carries out its activity, together with RecoRec, to nominate only one collaborator, and the sponsoring of the camps organized by the Romanian Ornithologic Society, reflect the importance GSP and its employees awards to the adoption of a responsible behaviour regarding environment protection.

Regarding the very good result obtained in the field of transportation, Marian Cârnat enumerated the elements which contributed directly to the high performance reached:

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“The whole car park of GSP meets the minimal requirements regarding pollution, Euro 4, and by their equipping with GSP monitoring systems, the covering of pre-established routes is assured, thus minimizing the fuel consumption. Also, by this GSP moniroring system, it is assured that the cars are not driven at excessive speed, which could lead to the significate increase of fuel consumption. Thus, by the implementation of the GSP monitoring system, a saving of fuel up to 20% could be obtained, compared to the period preceding the system implementation.

Regarding the process of new cars purchase, this also takes into account the environment aspects, so that the purchase of hybrid or electric cars alongside with their availability is envisages. However the GSP park is not equipped with such cars, as the latest purchases of cars were made in 2008.

The proportion of using alternative means such as bicycles is relatively low, approximately 10%, partly due to the fact that by the location of the headquarters in the port, where the intense heavy traffic is a high risk factor for the bicycle users, as there are no raceways on the port platforms in Constanta and in the satellite ports Midia, Agigea. But the transportation of all the employees to the working location and back, by a single means of transportation, thus eliminating the travel by more vehicles, which led to a significant saving of fuel and emissions into the atmosphere. Regarding the bicycle parking, it was provided in 2009 and contains a capacity of 25 bicycles.

Besides, within the company there is a program of granting prizes to the employees, consisting in bicycles, thus encouraging the alternative means of transportation.

By the specific activity of the company, namely offshore drilling, the sea transportation represents the main way of displacement of the drilling rigs, equipment and materials necessary for the drilling activities, and, regarding the personnel on the rigs, they use mainly air transportation

(plane, helycopter). The vessels belonging to GSP’s fleet are equiped with the most modern propelling systems, considering that most of the vessels are new (building year latest 2005), and the ones older than 2005 were revamped in the last 4 years, so that the whole fleet has the most efficient propelling means available.”

GREEN BUSINESS INDEX grants yearly the following distinctions: • Two I prizes for each of the seven analyzed fields, depending on the field of activity (Services/ Trade and Industry/Production), • grand GBI prize for the greenest company, • special prizes.

The occupants of the first two places are officially awarded prizes in the GBI Gala organized in June. The event enjoys every year the participation of pablic personalities, high officialities, representatives of the most important companies in Romania, besides representatives of mass-media. Therefore, Green Business Index, the top of the green companies in România, has a double functionality. On the one hand, it halps the companies to evaluate their impact on the environment and the steps taken for environment protection. On the other hand, for the public and media, it is an instrument monitoring the companies’ concern to protect the environment at present and in the future.

The Report of Green Business Index 2011 can be accessed at the following address: http://www.gbindex.ro/

The transportation of all the employees to the working location and back, by a single means of transportation, thus eliminating the travel by more vehicles, which led to a significant saving of fuel and emissions into the atmosphere.

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The Eye of Water The characteristic note of GSP’s ROV team is youth: the youth of its members, the relative novelty of the domain, a premiere in terms of training and career development in this profession in Romania. The specialization is a dual one, as ROV pilot – technician and it demands from those choosing this path: it asks those who have opted for a career in this field knowledge and skills in areas such as mechanics, hydraulics, electronics - they proving to be the key for the maintenance activities that the team members must be fully able to provide as well as pilot knowledge and skills. The ROV pilots - technicians need to prove themselves accurate and responsible, to be able to easily identify the most suitable solutions according to the circumstances and peculiarities of each activity, within any project.

ROV's are remotely controlled underwater robotic vehicles. The ROV pilots – technicians are responsible for the operation of equipments able to reach 3000 meters below the sea surface.

On their technical capacity to provide information at such great depths depends the success of the subsea survey and installation projects mobilizing hundreds of people working in remote offshore locations, onboard large offshore construction fleets, including ships with different capabilities, as well as the success of investments amounting hundreds of millions of dollars.

Who are the people making the “eye in the water” bring a key contribution to the success of large scale operations? We begin by saying that there isn’t at all a large professional class. They are those who, from the surface, survey, monitor, perform subsea light construction works, provide support for the diving operations or provide subsea services there where the diver’s intervention cannot be performed from technical reasons. GSP has mobilized the ROV fleet and the ROV pilots – technicians for a multitude of activities: surveys on the location of future offshore constructions, survey of dredging and trenching operations, subsea pipeline launch and position surveys, route and integrity surveys, anodes checking or replacement support during the saturation diving operations,

equipment recovery, and the list can continue.

ROVs are very complex pieces of equipment, representing considerable challenges in terms of technologies. They are classified in different operational classes, from those weighing only a few kilograms, in the survey class up to pieces of equipment weighing a few tones in the heavy duty subsea work class. The heavy duty class ROVs has the technical capacity of installing subsea structures and structure components, performing trenching The ROV pilots – technicians must possess very good theoretical knowledge of electronics, hydraulics and mechanics.

They provide the maintenance and service for the equipments they operates as well. IMCA has published to support those who embrace this profession a guide representing a minimal standard, “Entry level requirements and basic introductory course for remotely operated vehicle (ROV) personnel”. GSP, through GSP Training Center, provides real support in training the ROV pilots – technicians with the help of the ROV simulator.

GSP’s ROV pilots – technicians are, at the moment we meet them, in the final preparative phase for two projects. A team will go on board of the offshore drilling rig GSP Saturn together with the GSP Navajo, an inspection class

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ROV, and the second one prepares for the mobilization for operations within Sakhalin III project. Four members of the ROV team speak about their work, about challenges and projects.

Dan Dumitru Dima, ROV pilot - technician, GSP: "It was a chance. I came at GSP prepared to work as a 3rd Mechanic Officer. That's what I did before. I am a graduate of the Merchant Navy Institute in ConstanĹŁa.

I came to the interview only with what I had seen in documentaries on the Discovery Channel, also a bit in from the Titanic movie... I knew very little, only some general information. In Romania there were not departments of the kind before, so I knew one thing, that I can be a pioneer, I'll be among the first in a long series. Work is not something new to me. I work from 17 years old, and when I was 23 I came at GSP. I consider myself a responsible person, and I know

that my position here puts me in front of complex demands. Before working in the ROV control cabin we had to study, to understand very well all the equipment functions, the maintenance requirements because our team performs all the maintenance works as well. Beyond the spectacular activities on board, we must know with what equipment we work, we must be sure that it is in the best technical condition and, until now it rarely happened to ask advice from the manufacturer - there are now only a few situations exceeding our competence level, a few cases we confront for the first time and we learned the best lessons just paying attention, asking the right questions, taking full advantage of each work opportunity arising. It is a reason of personal satisfaction that I have cumulated so far about 9 months of work within offshore projects: I was involved both in Akcakoca platform installation

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Hamish Thomsen, ROV Manager and two ROV pilot – technicians he trained, Cristian Gabriel Dediu and Dan Dumitru Dima

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operations offshore Turkey and in the DLS project offshore the Caucasian coast of Russia where GSP installed the subsea pipeline. And I must say it is a very nice job. I have no reason to regret that my initial plan, that of becoming mechanical officer were changed. We are a young team and I must admit this is a strong motivation for us.”

Cristian Dediu, pilot - ROV technician, GSP: "I came to GSP on the same day with Dan. I was ready to take the post of electronics specialist on board of one of the offshore drilling rigs of the company.

At the beginning I got acquainted with the drilling team. Afterwards, there has been the opportunity to meet Mihai Carlan, the Offshore Construction Executive Officer. He presented for me the professional development prospects that this department could offer me and I did not hesitate. We also had a first discussion with Hamish Thomsen, the ROV Manager. At that time I must admit that I did not know much about this field.

I had no reason to look further beyond the level of general culture. Before meeting the ROV compartment manager, we discussed, exchanging a few impressions with the future colleagues and none could say more about ROV operations or ROV pilot – technicians than what we had seen on television, in the very few documentaries about this domain.

But all of us had a solid theoretical background we developed during the studies. This allowed us to easily understand processes, mechanisms we met for the first time. I believe the choice

Hamish Thomsen, the manager of the ROV compartment was able to glue together a team starting from a set of only a few strict rules mainly stressing our sincerity and responsibility.

of the faculty profiles completed by my colleagues and I were the first step in our careers as ROV pilots – technicians.

Without these specializations as naval mechanics or electronics specialists, I am convinced that I would have absolutely no chance to perform, remaining spectators in front of the TV, watching sometimes purely randomly movies with images from deep sea operations.

Hamish Thomsen, the manager of the ROV compartment was able to glue together a team starting from a set of only a few strict rules mainly stressing our sincerity and responsibility. Hamish leads by example. While offshore, during field operations, he is the first to arrive at work, the last to leave, always willing to provide guidance. While working with him I learned that mistakes can be fixed if the team members are working engaged on positions of honesty and respect, proving themselves responsible. We definitely will perform by the book with such a quality start.”

Ciprian Dudu, pilot - ROV technician, GSP: "I knew that GSP was looking for graduates willing to specialize in this domain. I was very interested. I graduated from the Naval Academy. I knew that there are not many specialists in this field, I also knew that it is very difficult to find a real opportunity for training as a ROV pilot – technician. Within GSP we had the opportunity to know and then to work closely with a specialist who has a determinant contribution to my professional formation. I do not dare to believe that the 18 months since we work here have provided us all the information we need to be very good and very confident in ourselves: we still need new work experiences. I actually had a chance to work as a ROV pilot in Russia, within the DLS project. We are the very eye in the water during the offshore operations.

It is a challenge as one must always be alert and keep the attention awake. Until now DLS is the largest project I’ve been involved in.”

Breaking the limit www.gspoffshore.com

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Cristian Gurgu, electronics ROV: "I joined the ROV team of GSP in May 2011. I benefit from the nearly four years experience in water treatment automation solutions, where I was involved mainly in marketing. I studied electronic engineering, a field in which I also attended the master classes in Bucharest Polytechnic. The moment came when I faced the need for a change as the previous position did not provide sufficient opportunities to enhance the skills and technical knowledge I gained. Electronics became a hobby when I was only 13 years old.

In the autumn of 2010 I learned about GSP, during the information campaign regarding the CADET program.

Then I was almost conquered by the development opportunities of the program and the investment in human resources. I followed then a path that can be a recruitment model. I came in November 2010 at GSP and I attended a presentation of the CADET program. The information I received on this occasion overcame my expectations. I was initially employed to provide maintenance of electronic components both for ROVs and the SAT diving equipment. Soon after that I understood that for me the ROV is more exciting: it is more complex in terms of electronic components incorporation.

The activities are more intense in this area and they offer me more opportunities to prove my professional capacity.

From the first day I felt useful for the ROV team. I knew I made the right choice, I like challenges, I enjoy the fact that, as a member of this team I’ll take advantage of a large variety of experience in different projects, I’ll also benefit upon mobility – vessels, offshore drilling rigs, the fixed offshore constructions are very attractive for me.

I train now to become ROV pilot – technician. The ROV team maintains a lively and responsible atmosphere and this matters a lot. I am pleased I chose a career in this niche area. I allow myself 10 years to grow professionally and I am

convinced that in this time I will convince those closest to me that I chose well, that I made the best move when I came to GSP. I say this because I know now with certainty that it provides a generous space for professional development and that my skills can very well mold on the requirements of the field. I am perhaps among the few people who find happiness in joining the profession with the hobby."

Breaking the limit www.gspoffshore.com

Cristian Gurgu, ROV electronics specialist

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Saturn Foundation is a nonprofit organization founded in 2006. Saturn Foundation provides help to social cases, ensures financial support in treating medical cases, and sustains the development of young and promising talents.

Saturn Foundation invites you to support two priority projects currently taking place:

The project "Together we help Bianca!"

Bianca - Roxana Popa is five years and four months old. The child was diagnosed with spastic tetraparesis - the most serious forms of spastic dyplegia spastic, pyramid extrapyramidal syndrome, mental and physical retardation; the diagnosis leading to the registration of the case in the severe degree disability category, the child being permanently assisted. Since 2008, following the four recovery sessions the child were subject of in the clinic of Truskawets, Ukraine, there have been registered the first encouraging signs of medical recovery and progress: Bianca - Roxana can open hands and catch, she relaxes her feet and stays seated by herself, without support, she sustains her head. Your contributions can help her continue the medical recovery with a new treatment session in the same clinic where the child is programmed to go starting with the 24 of October 2011. The total costs for this therapy session amounts to 3,500 Euros and the family doesn’t have this amount of money. We can raise the necessary amount the treatment requires! Donate to help Bianca to get a new victory!

The program "ABA therapy" Come along with Saturn Foundation in sustaining the Black Sea Psychological Center for Autism in conducting a scientific study that contribute to the recovery of children with neuropsychological disorders and to their social integration and acceptance within children’s collectivities (kindergarten and school) with the help of ABA Therapy (Applied Behavioral Analysis).

We offer financial support to allow the center’s specialist conduct the study: the program includes ten children with neuropsychiatric disorders (autism, mental retardation). Their ages range between 3 and 11 years old. The ten children come from families with modest incomes. Together we can help them!

For more details visit the Saturn Foundation website www.fundatiasaturn.ro You can support projects and programs listed above Saturn Foundation through donations in the accounts: RON: RO74BUCU1121211837084RON USD: RO17BUCU1121211837085USD Thank you!

Breaking the limit www.gspoffshore.com

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GSP, upholder of Expo Carto Constanta 2011, the first national deltiology exhibition hosted in Constanta

GSP remains faithful to the efforts of preservation and restoration of past values in the cultural circuit. As a result, the company has helped transform Constanta in the capital city of deltiology for five days. The event was hosted by the Art Museum of Constanta, between 12th and 17th of August and gathered thematic collections of passionate deltiologists across the country. The main organizers of the event were the "Tomis" Association of Philatelists and the Romanian Carto Club.

The Conference room of the Museum of Art hosted 45 deltiologists from across the country and a large audience of old postcards passionate. The exhibition, whose opening was held Wednesday, August 12th, is a major cultural event.

Expo Carto Constanta 2011 brought for first time into the public eye 40 important exhibits.

The key speakers at the opening of the National Deltiology Exhibition were: Radu

Cornescu, architect, , dr. Doina Pauleanu, director of the Museum of Art, Leonard Pascanu, honorary president of the Romanian Philatelic Federation, Serban Dragusanu, president of the Romanian Carto Club, and com. eng. Valeriu Avamescu, editor-in—chief of the Magazine of Philately, Postcards and Numismatics. Radu Cornescu highlighted in his speech the importance of the event for the Romanian Carto Club.

Constanta Carto Expo 2011 proved to be a useful lesson of history and culture. Dr. Doina Păuleanu, director of the Museum of Art, said about the event that it is "an exhibition of important works that lead us to think of another era in Romanian life, a life where comfort was available to all. The role of this exhibition is to set us back in another era when fashion was different, people looked happy and everything seemed to function normally.

The Exhibition Catalogue, with excellent graphics, includes the most valuable exhibits and collections of the national exhibition. GSP has great pleasure to support organizing the national exhibition in Constanta. We are honored to contribute to cultural and historical reconstruction efforts and we congratulate those who have supported the idea of this exhibition, devoting precious time and energy to achieve the cultural project of Expo Carto Constanta 2011.

Breaking the limit www.gspoffshore.com

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Vega Summer Beach hosted the 2011 edition of the GSP Football Championship The GSP Free Trade Union of Employees was the organizer and the main supporter of this project. The opening match, IT (III) - Safety + Training Centre (VI), was held on July 29th, at 6 p.m.

The second stage of the competition began on August 5th, on the floodlit field of the Vega beach.

The GSP Football Championship gathered in Group A the teams: Shipping+ Hydro-technical Constr.; Hotel Vega, IT, Safety + GSP Training Center, GSP Shipyard, Drilling and in Group B : Technical Vessels, Procurement, Offshore, Vega Security, Auto, Well Services.

Podium Ranking:

1. Vega Hotel 2. GSP Security 3. Shipping + Hydro-technical Constr.

The award ceremony was attended by all the participating teams and supporters and was hosted by the GSP Nautical Base on August 7th.

The winners received cups and medals.

The organizers also awarded the players who had notable performances in the “Fair-Play”, “Goal-Keeper” and “Goal-Getter” categories. \The ceremony ended with a round of applause and with the awards in the following categories: “The Bad Boy”, “The Old Boy”, and “The Most Compassionate Team”.

Breaking the limit www.gspoffshore.com