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Roxar Awarded Contract to Supply Multiphase Meters

Maritime Activity Reports, Inc.

December 13, 2006

Roxar announced the signing of a multi-million dollar contract with Vetco Gray to supply its industry leading subsea multiphase meters to the Kizomba C development, offshore Angola. The development is operated by ExxonMobil through its subsidiary Esso Exploration Angola (Block 15) Ltd.

The 19 Roxar subsea Multiphase meters are to be installed in the Mondo and Saxi/Batuque fields and follow the successful installation of Roxar meters by ExxonMobil in the Kizomba B development which went into production in 2005. In June 2006, Roxar announced the signing of the Letter of Intent for the installation in the Mondo field which has since been extended to the Saxi/Batuque fields as well. Through the continuous measurement of the amount of oil, condensate, gas and water at the wellheads on the sea bed, ExxonMobil will be able to determine the optimal production capacity of each well (thereby avoiding the risk of overproducing the well), increase flow assurance from the fields and optimize the production process.

The Roxar Multiphase meter is designed to provide accurate and continuous on-line monitoring of flow rates as well as its innovative, light-weight design with the meter’s electronics and flow computing modules contained in a subsea retrievable canister were crucial elements in the decision. Through a standard remotely operated underwater vehicle, installation and maintenance of the meters can take place with no impact on production and without the need for test lines and manifolds – particularly useful in the deep waters of the Kizomba development.

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