Awilco Wins Winter Work for Port Reval Accommodation Unit

Awilco Offshore has been awarded an extension of the contract with Aker Kvaerner Offshore Partner AS with respect to TOTAL's Frigg Cessation Program in 2006/2007. The contract secures additional four month employment from December 2006 until March 2007. The contract value is approx. US $9.5 million.

Port Reval is currently working at the Eldfisk Field for ConocoPhillips Norway on a 10 month contract with completion in June 2006. Thereafter, Port Reval will commence the work for Aker Kvaerner at the Frigg Field, and with the extension the unit will have continuous employment until July 2007.

Following the contract award, the two accommodation units have contract coverage of 96% in 2006, 75% in 2007 and 38% in 2008.