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New Offshore Equipment Contracts for Maritime Pusnes

Maritime Activity Reports, Inc.

April 28, 2004

The Aker Kvaerner subsidiary, Maritime Pusnes, has had a busy start to the new year winning contracts for over NOK 180 million. The contracts involve both marine and offshore equipment demonstrating MP's strength in both these market sectors. The contract awards comprise: Two contracts to supply mooring and riser pull-in equipment for a Floating Production, Storage and Offloading (FPSO) vessel that will be located off the coast of Angola. The mooring equipment consists of 12 underwater (hull-mounted) fairleads for 146 mm chain. Two large linear wire winches will be supplied to pull in and tension the mooring lines. In addition, 12 deck-mounted chain stoppers and overboard fairleads will be produced. The riser pull-in system comprises four large wire winches and ancillary equipment used to bring the flexible risers to their connection points on the FPSO.

Two contracts to supply mooring equipment for a production spar that will be installed in the Gulf of Mexico in 2006. One contract is for the 9 hydraulic chain jacks (RamWinches) that will be used to pull in and secure the 142mm chain used in the mooring lines. The other contract is for 9 underwater chain fairleads that are attached directly to the spar hull and direct the mooring lines toward the sea bottom (1500 m deep). Approximately 50 orders for traditional marine deck machinery, i.e., anchoring and mooring equipment. These orders are mainly for Korean shipyards but with an increasing percentage of Chinese shipyards. "The award of these important contracts has proven Maritime Pusnes' competitiveness within offshore and marine equipment deliveries. Our new solutions on riser pull-in equipment represent a breakthrough for us in an interesting market where success here will serve as a future reference for similar projects," says Leif Haukom, president of Maritime Pusnes. Most of the equipment will be manufactured in Poland and Asia, where Aker Kvaerner has established global sourcing and manufacturing hubs.

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