Marine Log

March 7, 2006

SLICE crew boat launched

Lockheed Martin [NYSE: LMT] has launched L’der, the first of two SLICE Crew Transport Vessels (SCTV) it is building for Mexico's Hoteler’a y Servicios Petroleros, S. A. de C.V. (HSP)

The vessls will be operated, under contract to PEMEX), to transport workers and limited cargo from Ciudad del Carmen to the Gulf of Mexico's Campeche Basin Oil Field, approximately 90 miles offshore.

Constructed at the FBMA shipyard in the Philippines, L’der and its sister ship, Tenaz, which will be launched this spring, feature Lockheed Martin's innovative SLICE design.

Based on Small Waterplane Area Twin Hull (SWATH) design, the SCTV hull form will improve the operational efficiency and lower the costs for PEMEX by enabling L’der and Tenaz to operate faster in more challenging sea conditions and still provide a safe, comfortable ride.

Following the dock and sea trials over the next several months, L’der and Tenaz will be transported together to Mexico for final delivery to HSP this summer.

"Today, and even more so in the future, oil exploration and production demands support vessels to go farther from shore and into deeper waters, often exposing passengers to rougher seas and for longer periods of time. By incorporating the latest technological advancements in offshore marine crew transportation in decades, L’der and Tenaz will enable HSP to better serve PEMEX by providing safer, more cost-effective, swifter and more comfortable transportation." said Carlos Alfaro, chief executive officer of HSP.

"We are extremely pleased to launch L’der," said Dave Broadbent, vice president and general manager of Lockheed Martin's Littoral Ships & Systems line of business. "Not only are we on budget and on time for delivery later this year, but we are providing HSP with an innovative vessel that meets the demanding needs of the offshore industry. The faster, smoother ride of L’der and Tenaz will enable workers to arrive sooner, healthier and ready to work."