Aker Awarded Another Subsea Contract

Aker Solutions received a contract from Noble Energy to deliver subsea control equipment for the Tamar project in the Mediterranean Sea. The scope of work includes engineering, manufacturing and delivery of a subsea controls distribution system, umbilical termination assemblies and related equipment. Estimated delivery date of the equipment is scheduled for the first quarter of 2011. The Tamar project is located in 5,505 feet (1,678 meters) of water offshore Israel and lies on the Matan Block. Noble Energy operates Tamar with a 36% working interest; Isramco Negev 2 holds 28.75%; Delek Drilling holds 15.63 %; Avner Oil Exploration holds 15.63%; and Dor Gas Exploration holds the remaining 4%.

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