KNOC 2

3/4/2009 12:00 AM

Friede & Goldman has entered into contract withKC KAZAKH B.V. (The Netherlands), a legal entityof Korean Consortium (Korea), on March 4, 2009,for the design of a Drilling Barge to operate in theshallow waters of the North Caspian Sea (ZhambylProspect).

F&G will conduct the design effort for the new builddrilling barge in coordination with Korea National OilCorporation, (KNOC), which has been appointed byKorean Consortium as the representative company toact on behalf of KC KAZAKH B.V.

For more information on KNOC, please visit their website:

http://www.knoc.co.kr/