Aker Kvaerner Wins Subsea Umbilical Contract

June 5, 2007

Aker Kvaerner won a $14m contract to supply subsea umbilicals to Helix Energy Solutions through its subsidiary Energy Resource Technology, Inc. The contract includes engineering and project management for the Noonan development project in the Gulf of Mexico. Aker Kvaerner will supply main and infield Electro/Hydraulic umbilicals for Helix's Noonan project in the Gulf of Mexico. The Noonan field is the Garden Banks Block 506 located approximately 230 km (145 miles) offshore from Galveston, Texas at a water depth of 820 m (2,700 ft.). The umbilical project management, engineering, and manufacturing will be performed at the Aker Kvaerner Mobile, Ala., USA facility. Delivery is scheduled for January 2008.

Aker Kvaerner Wins Subsea Umbilical Contract

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