Offshore staff

Subsea 7 has been contracted by Technip to install and test umbilicals in the Nigerian Agbami field operated by Star Deep Water Petroleum Ltd. (an affiliate of Chevron Corp.) for Texaco Nigeria Outer Shelf Inc., Petroleo Brasileiro Nigeria Ltd., Statoil Nigeria Ltd., Famfa Oil Litd., and the Nigerian National Petroleum Corp.

Agbami is offshore in 1,500m water depth and about 70 kilometers offshore of the central area of the Niger Delta.

The subcontract, valued at approximately 60 million, is for installation and testing of 15 infield umbilicals, totaling approximately 26 km, manufactured by Technip's subsidiary, Duco Ltd.

The contract also involves 12 support suction piles and associated manifolds, installation of 26 steel tube flying leads and the pre-installation of 52 electrical flying leads.

Subsea 7 will perform the work in late 2007.

6/9/06