Fairmount Wins Transportation Contract from Transocean

Fairmount Heavy Transport N.V. has signed a contract with Transocean to provide transportation and temporary dry-docking for the Trident XIV jackup.

The Trident XIV is expected to be loaded on the Fairmount Fjell off the coast of Angola in early December. The rig will be off-loaded by the end of December. Total revenues payable to Fairmount Heavy Transport are expected to be a minimum of US $3.3 million and will increase significantly in the event of any delays beyond December 31, 2006.

Fairmount Heavy Transport CEO, Philip Adkins : "Just days after successfully completing the transportation and float-over of the AMP2 topside offshore for SAIBOS, we have picked up a fantastic project for one of our key customers. We are very pleased with the way in which our manager, Fairmount Marine, has arranged this project and managed to fit it into the planning prior to the conversion of the vessel."

The Fairmount Fjell will proceed to for conversion immediately after completing the Transocean contract and is expected to be back in the market by second quarter 2007 as one of the newest self-propelled semisubmersible heavy transport vessels in the world