Aker Kvaerner Wins Contract

Lundin Netherlands B.V. Succursale de Tunisie awarded Aker Kvaerner a contract for marine operations in conjunction with deployment of the FPSO "Ikdam" to the Oudna field offshore Tunisia. The contract value is approximately $14 million. The work will be executed under an alliance agreement with the Aker Kvaerner company, Aker Marine Contractors, and Maersk Supply Service who will provide the installation vessel. The marine operation, including installation of mooring system, flexible risers and umbilicals is planned in June/July 2006 with the hook-up of the "Ikdam" in August 2006. The water depth at the field is about 260 m. The project will commence immediately.