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Marine Log

OSCV 06L

March 17, 2006

Aker Yards wins construction vessel orders

Aker Yards has entered into a contract with DOF ASA, through its subsidiary DOFCON ASA, for the building of two large construction vessels--one in Norwy, one in Brazil. The contract includes options for two sister vessels.

The value of the contract is approximately NOK 1,580 million (about $23.9 million)..

The vessel to be built in Norway, at Aker Yards, Soviknes, is an Aker OSCV 06 L, designed by Aker Yards Project.

Delivery is scheduled for May 2008.

The vessel is of 153 meters length, will be equipped with a 400 tonnes offshore crane, and will have DP Class 3 and Ice Class.

The vessel will have a maximum speed of 18 knots, which is important for global operations in order to minimize mobilization time.

DOFCON has an option to order a sister vessel for delivery first quarter 2009.

The other vessel is to be built by Aker Yards in Brazil, with delivery scheduled for October 2008, and is of Aker OSCV 06 design.

This 138 m vessel will be equipped with a 250 tonnes offshore crane, and will have DP Class 3.

The vessel will be the only large construction vessel thus far built in Brazil. DOFCON has an option to order a sister vessel for delivery April 2009

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