ATP Oil and Gas Corporation Bluewater Industries

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 Operator:                                                  Client:
 ATP Oil and Gas Corporation                                Bluewater Industries
 4600 Post Oak Pl, Ste 200                                  5300 Memorial, Suite 550
 77027 Houston, Texas                                       77007 Houston, Texas
 USA                                                        USA

 Telephone:        +1 713 622 3311                          +1 713 802 2060
 Fax:              +1 713 622 5101                          +1 713 201 3181

NKT Flexibles was awarded a contract for the supply of two dynamic risers for Bluewater Industries
who acts as project manager for the operator ATP Oil and Gas Corporation on the GOMEZ project.
The contract was awarded in autumn 2005 and consisted of the following scope of supply:

 Field                Type                  Application           Length            Design          Design
                                                                    (m)          Pressure (psi)   Temperature
 GOMEZ         6”ID Dynamic Riser           Oil Export           1 @ 2122            2226            38°C
 GOMEZ         8”ID Dynamic Riser           Gas Export           1 @ 2087            2226            38°C

The GOMEZ field is located in Mississippi Canyon block 711 in the Gulf of Mexico where the
deepest water depth at the field is 3,081 ft corresponding to 939m. The award of the flexible pipes
marks NKT Flexibles’ third delivery to the Gulf of Mexico and welcomes Bluewater Industries as
well as ATP oil and Gas Corporation as new customers.

The development of the GOMEZ project will comprise up to four wells tied back to a semi-
submersible converted into a floating production facility (FPF). Two export lines are required, one
6”ID oil export line and one 8”ID gas export line.

All subsea well tiebacks to the FPF are provided by flexible flowlines. The subsea well controls will
be provided by using direct, hydraulic, closed loop systems via individual dynamic umbilicals.

The field layout

                             NKT Flexibles I/S - flexible pipes for the future

NKT Flexibles is responsible for design, supply of all materials, manufacture, test and delivery of one
6”ID oil export riser and one 8”ID gas export riser. Further to the delivery of the flexible pipes NKT
Flexibles supply required accessories like topside bend stiffeners, buoyancy modules, pull heads
and hang-off structure.

The two dynamic risers are sweet service risers both rough bore structures with innerliner of PA-11
and associated outer sheath of PA-11 as well.

The dynamic risers wll be suspended from the FPF by a dedicated spilt collar riser hang-off system.
Associated dynamic type bend stiffeners will support the flexible pipe structures at the subsea flange
of the I-tube guide pipe.

In order to facilitate a cost effective overall solution for the client, the flexible risers will be installed in
a lazy wave configuration. NKT Flexibles has been responsible for all dynamic analyses and fatigue
analyses required to validate the durability of this configuration.

Output is expected by the fourth quarter of 2005 or as early as September where production is
estimated to reach 60 million cubic feet of gas and 20,000 barrels of oil per day.

The risers were delivered in spring 2005 from NKT Flexibles’ factory in Kalundborg, and it is
expected that installation will take place during third quarter of 2005.

NKT Flexibles I/S is an independent company owned 51% by NKT Holding and 49% by Stolt
                                                                                                              Revision 1 Jun.2005/LEH

Offshore. The company is responsible for manufacture and supply of flexible pipe products for
the offshore oil & gas industry as well as the chemical and water industry.

                                                        Priorparken 510, DK-2605 Brøndby, Denmark
                                                        Telephone: +45 43 48 30 00. Telefax: +45 43 48 30 10
                           NKT Flexibles I/S - flexible pipes for the future