Offshore staff

Statoil says it intends to award Vetco Aibel the contract to design, build and test of a 1,100 ton compressor module on the platform Sleipner B. Sleipner B is a remote operated wellhead platform about 12 km from Sleipner A, in the North Sea.

Scope of work for the contract comprises engineering, procurement, fabrication, onshore testing, offshore hook-up, commissioning, and start up assistance to Statoil.

Engineering and fabrication will be at Vetco Aibel's facilities in Haugesund, Norway. Work starts immediately and should be completed in 4Q08.

6/14/06