Bluewater 16 inch Composite Cryogenic Hose Passes Type Approval Tests.

HOOFDDORP, The Netherlands -- Bluewater Energy Services B.V., a member of the Bluewater group of companies, has announced that the type approval programme of the 16 inch Composite Cryogenic Hose has been completed successfully, following the type approval of the 8 inch hose which was already announced earlier this year.

The Lloyd's type approval of the 16 inch hose is part of the exclusive license agreement and further planned technological developments of the Composite Cryogenic Hose technology. Bluewater holds the exclusive rights to commercialise and market the patented Composite Cryogenic Hose for LNG transfer.

The type approval testing programme has been executed for the certification of the hose against the applicable codes, such as the IMO IGC and relevant USCG and OCIMF standards and guidelines. In addition to the requirements for the approval of these codes, the 100 barg maximum pressure test was executed using liquid nitrogen at cryogenic temperatures to demonstrate the suitability and capacity of the Composite Cryogenic Hose for LNG transfer. As a result of the type approval test programme the 16 inch hose will have a certified working pressure of 20 barg.

"We are excited about the attention the hose has received so far, in particular from the major oil companies", commented Bluewater's President, Hugo Heerema, "We expect even more attention during and after the OTC week in Houston".

Visit Bluewater at OTC 2008, booth 1723 from 5th to 8th of May in Houston, USA.

Note to editors:

The Bluewater group of companies has built a technological lead specializing in lease and operation of tanker-based Production and Storage (FPSO/FSO) systems, and has become a leading provider of advanced Single Point Mooring (SPM) systems. Bluewater operates worldwide with offices in The Netherlands, United Kingdom, United States, Nigeria, Angola, South Africa, Malaysia, Russia and China.