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news 12 MTR March 2007 Marine Subsea signed a contract with Ulstein Verft to deliver a Ulstein SX121 well intervention ship from Ulstein Design. This is the largest contract — $137m — for one ship for the Ulstein Group. It is scheduled for delivery in July 2009, and has been contracted in Angola. African Offshore Services, the holding company of Marine Subsea Inc., will carry out well intervention and other oil-service- related operations in West Africa. "We are very pleased when our new customers ask for ships with the characteristic Ulstein X- BOW. We are frontrunners in developing highly advanced construction vessels loaded with equipment enabling them to Marine Subsea Orders Well Intervention Ship MTR#2 (1-16).qxd 3/1/2007 10:24 AM Page 14
