Aker Floating Production ASA – secured intermediate storage contract

Aker Floating Production ASA has through its wholly owned subsidiary Aker Contracting FP AS entered into a 180 day contract with Koch Shipping Inc., USA for its vessel `Aker Smart 3` (previously `Oriental Tiger`) to serve as an anchored floating storage unit in Malaysian waters.

The contract has options at the customers request for two additional 90 day periods. The day rate is fixed at USD 14,200 and the contract will commence in September 2006.