Olympic Subsea ASA Expands Fleet with Energy-Efficient Construction Vessels

requirements of the Paris Agreement. The construction, valued at approximately NOK 1 billion, will be undertaken at the CMHI shipyard in Shenzhen, ensuring the use of advanced Norwegian design and equipment. Stig Remøy, majority owner of Olympic Subsea ASA, expressed the company's commitment to environmentally friendly practices and local economic benefits. The project is expected to significantly bolster the maritime cluster in Northwestern Norway, injecting around NOK 700 million into the local economy and fostering long-term job security and community benefits. The new vessels, scheduled for delivery in the summer of 2027, will cater to both the renewable energy and oil & gas sectors, underlining Olympic's leadership in energy transition efforts. This initiative reflects the unprecedented growth and strategic foresight of the company, with expected fleet revenue for 2024 reaching NOK 1.6 billion, a notable increase from 2023.