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Aker Kvaerner to Deliver Process Systems to MODEC

Maritime Activity Reports, Inc.

April 18, 2007

Aker Kvaerner has signed a contract with MODEC International LLC for delivery of process modules for a floating production facility (FPSO). The total contract value for Aker Kvaerner is approximately $13m.

The scope to be performed by the Aker Kvaerner subsidiary, Aker Kvaerner Process Systems, will be engineering, procurement, construction, assembly, test and delivery of Aker Kvaerner's sulphate removal unit (SRU) and deaerator system. Engineering will be executed from the office in Oslo, Norway. Construction, assembly and testing will be carried out at Aker Kvaerner's new manufacturing facility in Port Klang, Malaysia. This will be the first delivery of process technology from this new facility in Malaysia which is a benefit regarding the relative short distance to the client's office in Singapore.

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