Offshore staff

OSLO, Norway -- Sonangol Pesquisa e Producão S.A. has signed a letter of intent with Aker Kvaerner for supply of the subsea production system at the Block 4/05 - Gimboa field offshore Angola in West Africa. The total contract value is approximately $68 million.

The subsea equipment will be installed at a water depth of 700 metres at the Gimboa field about 80 kilometres offshore the coast of Angola.

Aker Kvaerner Subsea will supply project management, engineering, manufacturing, testing, delivery, and installation support for the Gimboa subsea production system.

8/31/06