Offshore staff

OSLO, Norway -- A contract was signed by Peak Petroleum Industries Nigeria Ltd. and Equator Exploration Ltd. to use a Bergesen Worldwide Offshore Ltd. FPSO at Bilabri field offshore Nigeria in OML 122.

Bergesen will rename the FPSOBW Endeavor to BW Peace for the project which is for a fixed three years and extention options up to a total of 10 years.

Operations at Bilabri are planned to begin in the second half of 2007.

10/18/06