Page 37: of Maritime Reporter Magazine (June 2004)

2004 World Yearbook

FPSO Spending: 1999-2008 ill (Source: The World Floating Production Report,

Douglas Westwood) nine installations — five TLPs, two spars, a barge and a FPSO — are forecast with a total capex of $1.7 billion."

The World Floating Production Report uses information from The World Floating

Production Database, a new information system from Douglas-Westwood. According to data- base editor. Georgie MacFarlan, "over the next five years we expect just 12 operators to account for 60% of the installations and almost 80% of the capex forecast worldwide for the 2004-2008 period. "Petrobras, with 13 installations fore- cast, is expected to be the biggest spender, fol- lowed closely by ExxonMobil, then

ChevronTexaco, BP and Shell."

PPL Shipyard Wins $117.6M

Rig Contract

PPL Shipyard, a subsidiary of SembCorp

Marine won a $117.6 million contract from

Mosbarron Ltd., a subsidiary of Awilco AS of

Norway, for the construction of a Baker Pacific

Class 375 Jack Up Rig.

The contract includes an option for another three units of jack-up with price adjustment for increase in drilling package. The design of the 120-person jack-up rig is a proprietary design of

Baker Marine Pte. Ltd, a wholly owned sub- sidiary of PPL Shipyard. It is designed to oper- ate in 375 ft. of water and in-ground drilling depth of 30.000 ft. Work on the new rig is expected to commence in June 2004 with deliv- ery scheduled in the second quarter of 2006.

To-date, PPL Shipyard has built 25 jack-ups and four semi-submersibles. It has in 2003 delivered the first deepwater jack-up drilling rig to GlobalSanteFe International with the second jack-up drilling rig recently delivered in March 2004. 1 in maritime equipment

Cranes

Marine and

Offshore Cranes

A wide range of cranes for cargoes, container and grab operations up to a capacity of 60t

SWL. We also have a full range of store and service cranes with stiff-, telescopic- and knuckle booms, up to aprox. 600 TM.

Manufacturing and supply

We manufacture and provide first class marine and offshore cranes for all kinds of ships, exploration rigs, fixed or floating production platforms, at very competitive prices.

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NORWEGIAN maritime equipment

The worldwide marketplace www.nme.no

P.O Box 244. 5480 Husnes, Norway

Tel. +47 53 47 95 00

Fax + 47 53 47 34 99

E-mail: lime nme.no

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June 2004 37