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Power Contract for FPSO Announced

Maritime Activity Reports, Inc.

June 4, 2007

Finland's Wärtsilä won a contract in May 2007 by the Brazilian offshore company Dynamic Producer Inc. to supply the entire power, automation and propulsion system for a dynamically-positioned well-testing FPSO (floating production, storage and offloading) vessel with the project name PIPA II. The project is due for completion in the first part of 2009.

This dynamically-positioned well-testing vessel will be converted from an existing Aframax tanker and equipped with drilling, as well as production equipment. Dynamic Producer Inc. will employ the ship offshore in Brazilian waters from 2009 onwards.

Wärtsilä will supply the electrical propulsion, control and electrical distribution systems, including diesel generating sets, steerable thrusters and the complete automation and safety system, including topside automation.

As part of the contract, Wärtsilä will provide an integrated engineering team which will take care of all engineering related to the delivery of the scope. This team will also be involved in the commissioning phase during the conversion.

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