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i-Tech Announces ROV Build Program

Maritime Activity Reports, Inc.

June 8, 2006

i-Tech Announces ROV build Program Global contractor, i-Tech, part of Subsea 7 announced that it has placed an order for new build deepwater work class vehicles, which will be supplied with advanced, light weight, high performance handling systems. The systems, to be named Centurion Qx, have been specifically designed and built for i-Tech and its target market. The 125hp Centurion Qx will be rated to operate at water depths up to 2,000m as standard with options to upgrade to 3,000m and beyond. The systems will be built by SMD Hydrovision (SMDH) at their Turbinia works on the River Tyne in Newcastle, UK. The Centurion Qx is an evolution of the successful Subsea 7 designed and built Centurion work class series. The new Centurion Qx will incorporate a number of key components used on SMDH’s proven Q-Series range of ROV’s including DVECS distributed control and the latest generation Curvetech thrusters. i-Tech has embarked on this build program as it is confident of securing, in the short term, commitments for a number of these new build ROV systems, with deployment anticipated to be in deepwater regions including West Africa, North and Latin America. This deployment would further consolidate i-Tech’s position as a global ROV and intervention provider to the offshore E&P sector.

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