Aibel lands FPSO management contract

Sea Production Management A/S subsidiary Puffin FPSO Ltd. has placed a turnkey facility management contract with Aibel Pty. Ltd for the Front Puffin FPSO on the Puffin field northwest of Australia.

Offshore staff

PERTH, Western Australia -- Sea Production Management A/S subsidiary Puffin FPSO Ltd. has placed a turnkey facility management contract with Aibel Pty. Ltd for the Front Puffin FPSO on the Puffin field northwest of Australia. The field is owned by AED Oil Ltd.

The two-year contract carries four one-year extension options. The contract scope includes approval from the National Offshore Petroleum Safety Authority (NOPSA) as operator. NOPSA has approval authority for the Safety Case, all mobilization activities, systems and procedures, maintenance planning, subcontracts, providing spares, chemicals and consumables, recruitment and training, commissioning assistance, and startup.

Through the operation phase, the scope includes operations and maintenance of the vessel including all logistics and supply chain management, including supply vessel and helicopter support, and technical and administrative support.

This contract will be executed through integrated networking among Perth, Stavanger, and the vessel.

5/8/2007

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