Offshore staff

SHANGHAI, China -- S.B. Submarine Systems Co. Ltd. contracted to install power and communications cables for Saipem SpA to two gas production platforms off Papua in Bintuni Bay.

The cables allow BP's Tangguh LNG project to monitor remotely the platforms' operations. Installation is scheduled 1Q07 and will requrie 28 days.

SBSS is a joint venture of China Telecom and Blobal Marine Systems Ltd.

7/31/06