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Aker Kvaerner Completes Semisubmersible for Blind Faith Platform

Maritime Activity Reports, Inc.

September 11, 2007

Aker Kvaerner has successfully completed the semisubmersible hull for Chevron's Blind Faith platform. The original engineering, procurement and construction (EPC) contract was awarded to Aker Kvaerner, Inc. by Chevron, with partner Anadarko, in October 2005. The semisubmersible left the Aker Kvaerner Verdal yard in Norway on June 24 and has been transported to a Gulf of Mexico integration yard to be outfitted with the topsides.

The Blind Faith platform was the first use of Aker Kvaerner's deep draft semisubmersible (DDS) concept, which was conceived specifically for the application of steel catenary risers in the ultra-deepwater and current-heavy Gulf of Mexico environment. Evolved from the company's decades of experience in designing semisubmersible hulls, the DDS four-column ring pontoon semi represents a strong evolution of Aker Kvaerner semisubmersible lineage.

Before leaving the yard for its final destination, the Blind Faith hull was named Frøya at a traditional naming ceremony at the Aker Kvaerner yard. Aker Marine Contractors managed the dry transportation of the semisubmersible to the Gulf of Mexico utilizing the HLV Tern from Dockwise as transport vessel, and will coordinate installation at its final location. Once complete, the Blind Faith platform will be located in Mississippi Canyon block 650, approximately 162 miles southeast of New Orleans, which is part of the ultra-deepwater Gulf of Mexico in 6,500 feet water depth.

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