GC Rieber Shipping (NO) and HitecVision (NO) Joint Venture investment in Bluestone Offshore (SG) and Technocean (NO) — NOK 195 million

Carnegie acted as adviser to Bluestone and Technocean in a fundraising from a Joint Venture company established by GC Rieber Shipping and HitecVision for the purpose of co-owning and investing in Bluestone and Technocean. GC Rieber Shipping will contribute its shareholding in Bluestone and Technocean to the Joint Venture, as well as a direct investment of NOK 35 million. HitecVision will initially contribute capital of NOK 160 million to the Joint Venture. Bluestone is a deepwater offshore geotechnical survey services company. Technocean provides subsea inspection, maintenance and repair, survey and light construction support services. January, 2010.