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BARDEX TO PROVIDE RIG SKIDDING
FOR KIZOMBA TLP PROJECT

GOLETA, California, U.S.A., May 24, 2002

Bardex Corporation of Goleta, California has been contracted by offshore drilling contractor, Pride International, Inc. of Houston, Texas to provide the hydraulic Rig Skidding and Clamping systems to be used on the tension leg platform (TLP) for ExxonMobil's world-class Kizomba A deepwater project in Block 15 off Angola.

The contract calls for Bardex to supply two 400 Te push-pull capacity hydraulic Gripper Jack assemblies for substructure skidding and two 400 Te push-pull capacity hydraulic Gripper-Jack assemblies for skidbase skidding. A rig clamping system consisting of eight storm clamp assemblies and two skid lock clamp assemblies for the drill deck and skidbase capping beams is also included. Two Control Console assemblies will be provided for operating the rig skidding and clamping systems. Delivery of the Bardex system is scheduled for late spring of 2002 to Corpus Christi, Texas, where Pride is having the rig for the Kizomba TLP assembled.

Kizomba A will develop the Hungo,Chocalho, Kissange, and Dikanza discoveries in water depths of 3300-4200 feet and features the combination of a TLP wellhead platform and subsea production system tied back to what will be the world's largest floating production, storage, and offloading (FPSO) vessel.

The TLP is being supplied by ABB Ltd. in partnership with Heerema Marine Contractors. Recoverable resources from the $3 billion Kizomba A project are approximately 1 billion bbl of oil. First oil is scheduled for late 2004.

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