Services/Suppliers

June 11, 2007

MacGregor Group AB

Gothenburg, Sweden, has announced formation of a new division, MacGregor Offshore. The division is built on two recently acquired companies, Hydramarine in Kristiansand, Norway, and Plimsoll, in Singapore. Both companies specialize in hydraulic and electrical deck machinery for ship owners, yards, and operators in the offshore industry. Hydramarine’s key products are large active heave compensated cargo handling solutions including cranes, davits, winches, and subsea load handling equipment. Plimsoll’s key products are winches and cranes for offshore and other marine applications.

Two other recent acquisitions provide the group with service capability on both sides of the North Sea. Those acquired service companies are Vestnorsk Hydraulikkservice AS, and Scottish company Grampian Hydraulics.

MacGregor Offshore division will be headed by general manager Henrik Vildenfeldt, former senior vice-president of corporate development in the MacGregor Group. Other members of the management team are Leif Byström, vice-president of operations; Ismo Matinlauri, director of after sales operations; Henry Yap, managing director of Plimsoll; Chai Chon Kim, executive director of Plimsoll; Vidar Robstad, managing director of Hydramarine; and Svein Erik Halvorsen, technical director of Hydramarine.

MacGregor Group, a member of Cargotec Corp., is a leading provider of engineering and service solutions for the maritime transportation industry.

Antares Offshore LLC

Houston, has announced the launch of PT Antaresindo Mandiri Utama, a subsidiary headquartered in Jakarta, Indonesia. Ricco Okvianto has been named director of PT Antares, with responsibility for day-to-day operations of the company, as well as developing the market.

Antares Offshore LLC is a consulting engineering company specializing in subsea field developments and marine pipeline project delivery.

Schlumberger

Houston, has announced its acquisition of Insensys Oil & Gas Ltd., a UK-based pioneer provider of non-intrusive fiber optic measurements for application in the integrity surveillance of subsea production systems.

Integration of Insensys’ solutions with existing Schlumberger knowledge in the field will aid creation of unique product offerings to reduce technical risk in deepwater subsea developments.

Schlumberger is a leading global oil field services company supplying technology, information solutions, and integrated project management that optimize reservoir performance for customers in the oil and gas industry.

Southwestern Drilling Co., LP

Plano, Tex., has announced the appointments of Don R. White Sr. as corporate sales manager, David B. Perrin as operations manager, and William E. Suttle as drilling manager.

White has over 40 years of oil field experience, including 28 years with Smith International. He will be located in Kilgore, Tex.

Perrin has worked in drilling rig assembly and operations for Texas Wyoming Drilling, and Del Mar Drilling, during his 30-year career. Suttle spent the last 23 years of his oil field management career with Helmerich & Payne Inc. Both Perrin and Suttle will be located in Mineral Wells, Tex.

Southwestern Drilling Co., formed in 2005, operates in east and north central Texas.