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Aker Kvaerner Completes Offshore SRU

Maritime Activity Reports, Inc.

July 9, 2007

Aker Kvaerner has completed its two first offshore Sulphate Removal Units (SRU) commissioning in Brazil. The work has been executed by the Aker Kvaerner subsidiary Aker Kvaerner Process Systems , who is a major supplier of water injection and SRU including services, successfully completed the SRU commissioning on Petrobras FPSO P50 with a capacity of 220,000 BPD of low sulphate water at the end of April 2007. This unit is the first delivered by Aker Kvaerner Process Systems to the Brazilian market. In parallel, Aker Kvaerner Process Systems completed the commissioning of the second SRU supplied to the FPSO MV14 (FPSO Cidade do Rio de Janeiro) operated by MODEC, with a capacity of 120,000 BPD of low sulphate water. Performance guarantee testing was approved by the client. Not only was the FPSO MV14 a fast track execution project during fabrication, it was also very time critical regarding system commissioning and getting the SRU plant operational to support the injection wells when hooked up. This shows the high level commitment and abilities of Aker Kvaerner Process Systems to deliver functional process modules. The success of the commissioning work is very much due to the close cooperation between the Aker Kvaerner Process Systems offices in Norway and Brazil and utilizations of each locations inherent technical and cultural skills. The operational SRU's are part of the IOR (Increased Oil Recovery) activities supporting Petrobras to maintain and increase the oil production in the Campos Basin. In addition to the facilities in operation, Aker Kvaerner Process Systems is currently supplying similar equipment for another two Brazilian projects; The P-54 project, expected to be commissioned shortly, and the FPSO Cidade do Niteroi to be commissioned end 2008.

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