Use these links to rapidly review the documentCONTENTS

Exhibit 4.56

Execution
version



DATED 21 FEBRUARY 2003

DEED OF AMENDMENT, RELEASE AND CONSENT

in relation to a

REVOLVING CREDIT FACILITY AGREEMENT
of up to US$600,000,000

to

BLUEWATER HOLDING B.V.
BLUEWATER ENERGY SERVICES B.V.
BLUEWATER OFFSHORE PRODUCTION SYSTEMS LIMITED
BLUEWATER (HAEWENE BRIM) N.V.
RANBERGER HOLDING N.V.
LULUDIA ASSET FINANCE B.V.
REFUGIO B.V.

provided by
the banks and financial
institutions named herein

arranged by

BARCLAYS CAPITAL
FORTIS BANK NEDERLAND N.V.
and
ING BANK N.V.



Norton Rose

---

CONTENTS



|Clause                                                 
|-------------------------------------------------------
|1      Definitions                                     
|2      Interpretation                                  
|3      Amendments                                      
|4      Reassignment, release, discharge and termination
|5      Consents                                        
|6      Effective Time                                  
|7      Appointment of Escrow Agent                     
|8      Law and jurisdiction                            
|9      Escrow Agent                                    
|10    Miscellaneous                                    
|Schedule 1 Amendments to Transaction Documents         
|Schedule 2 Form of BH Account Charge                   
|Schedule 3 Reduction Schedule                          
|Schedule 4 BH Corporate Documents                      
|Schedule 5 Lessor Notice                               
|Schedule 6 Facility Agent Notice                       
|Schedule 7 Conditions precedent                        

---



THIS DEEDis dated 21 February 2003 and madeBETWEEN:

THIS DEED WITNESSES AND IT IS HEREBY AGREEDas follows:

1      Definitions



1

---



2      Interpretation



3      Amendments



2

---

4      Reassignment, release, discharge and termination



5      Consents



3

---



6      Effective Time



6.2  Facility Agent Notice and Lessor Notice



6.3  Manner of issue of Facility Agent Notice and Lessor Notice



4

---



7      Appointment of Escrow Agent



8      Law and jurisdiction

8.1  Law



5

---

8.2  Submission to jurisdiction



9      Escrow Agent

9.1  Duties



9.2  Liability



9.3  Reliance



6

---

9.4  Indemnity



9.5  Determination by Escrow Agent



9.6  Illegality



10      Miscellaneous

10.1 Counterparts



10.2 English language



10.3 Severability of provisions



10.4 Contracts (Rights of Third Parties) Act 1999



7

---

10.5 Assignees and pledgees



10.6 Transaction Document



IN WITNESSwhereof this Deed has been duly executed as a deed and delivered the day and year first above written

8

---



Schedule 1    Amendments to Transaction Documents

1      Definitionsschedule 9 to the Credit Agreement and schedule 2 to the Deed of Proceeds and Priorities





2      Clause 2.5.5 of the Credit Agreement



9

---



10

---



3      Clause 2.8.8 of the Credit Agreement



4      Clause 4.1.1 of the Credit Agreement



| | "4.1.1. | On each Repayment Date ("First Repyament Date"), the Borrowers shall pay to the Facility Agent for the account of the Banks, in or towards repayment of the Credit (other than
the L/C Undrawn Advances, if any), an amount which is not less than the greater of:
| | ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



11

---



5      Schedule 4 to the Credit Agreement



6      Clause 7.1.5 of each of the Guarantees



7      Clause 7.1.23 of each of the Facility Guarantee and the Lessor Guarantee and clause 7.1.16 of each of the other Guarantees



12

---

8      Clause 16 of the Facility Guarantee



9      Clause 7.2 of the BBH Account Charge



13

---



10    Clause 7.2 of the BML Account Charge





11    Clause 6 of the Deed of Proceeds and Priorities



12    Glas Dowr Head Lease



13    All Transaction Documents



14

---





Schedule 2    Form of BH Account Charge

THIS
AGREEMENT AND DEED OF PLEDGE OF ACCOUNTis made on 2002BETWEEN:

WHEREAS:

NOW, THEREFORE, THE PLEDGOR HEREBY AGREES WITH THE PLEDGEE AND THE PLEDGEE HEREBY AGREES WITH THE PLEDGORas follows:

1      Account Bank's waiver



15

---

2      Definitions and Interpretation



16

---



3      [Intentionally omitted]

4      Pledge



5      Representations and Warranties

17

---



6      Undertakings



7      Use of Account

18

---



19

---

8      Security



20

---



21

---

9      Enforcement of Security



10    Application



22

---



11    Power of attorney

12    Risks and Charges



23

---

13    Invalidity



14    Rescission



15    Assignment and Transfer



16    Notices



24

---

17    Termination and Release



18    Applicable Law and Jurisdiction

19    Counterparts



[Remainder intentionally left blank]

25

---



|Barclays Bank PLC      |  | 
|---------------------- |  | 
|By:                    |  | 
|Name:                  |  | 
|Title:                 |  | 
|                       |  | 
|                       |  | 
|Bluewater Holding B.V. |  | 
|By:                    |  | 
|Name:                  |  | 
|Title:                 |  | 
|                       |  | 
|                       |  | 
|ING Bank N.V.          |  | 
|By:                    |  | 
|Name:                  |  | 
|Title:                 |  | 

26

---



Schedule 3    Reduction Schedule

|Repayment Date
(Quarter) |  | Reduction (from $600,000,000)
$000,000
|------------------------ |  | --------------------------------------
|15 March 2002            |  |                                      
|15 June 2002             |  |                                      
|15 September 2002        |  | 20                                    
|15 December 2002         |  | 20                                    
|15 March 2003            |  | 20                                    
|15 June 2003             |  | 20                                    
|15 September 2003        |  | 20                                    
|15 December 2003         |  | 20                                    
|15 March 2004            |  | 20                                    
|15 June 2004             |  | 20                                    
|15 September 2004        |  | 20                                    
|15 December 2004         |  | 20                                    
|15 March 2005            |  | 20                                    
|15 June 2005             |  | 20                                    
|15 September 2005        |  | 20                                    
|15 December 2005         |  | 20                                    
|15 March 2006            |  | 20                                    
|15 June 2006             |  | 20                                    
|15 September 2006        |  | 20                                    
|15 December 2006         |  | 20                                    
|15 March 2007            |  | 20                                    
|15 June 2007             |  | 20                                    
|15 September 2007        |  | 20                                    
|15 December 2007         |  | 20                                    
|15 March 2008            |  | 20                                    
|15 June 2008             |  | 20                                    
|15 September 2008        |  | 20                                    
|15 December 2008         |  | 20                                    
|15 March 2009            |  | 20                                    
|15 June 2009             |  | 20                                    
|15 September 2009        |  | 20                                    
|15 December 2009         |  | 20                                    

27

---



Schedule 4    BH Corporate Documents

MANAGING DIRECTOR'S CERTIFICATE

Bluewater Holding B.V.(the "Company")

I,
Hugo Jan Heerema, the Managing Director of the Company, hereby certify that:

| | Name             |  | Address                                  |  | Signature
| | ---------------- |  | ---------------------------------------- |  | ---------
| | Hugo Jan Heerema |  | Hemelakkers 75
B-2930 Brasschaat
Belgium |  |          

| | Shareholder                                   |  | Number of Shares
| | --------------------------------------------- |  | ----------------
| | Bluewater Offshore Production Systems Limited |  | 100,000         

28

---

As
far as I am aware, no actions, suits, investigations, litigation or proceedings are current or pending or threatened against or affecting the Company or any of their respective assets before any
court, arbitrator or governmental agency that purport to or may affect the legality, validity or enforceability of the BH Account Charge.

Definitions

Words
and expressions defined (whether expressly or by reference to another document) in the Deed of Amendment, Release and Consent in relation to a US$600 million revolving credit facility
agreement dated on or about the date hereof shall bear the same respective meanings when used in this Certificate.

|SIGNED: |  |                  |  | 
|------- |  | ---------------- |  | 
|        |  | Hugo Jan Heerema |  | 
|Dated:  |  |                  |  | 

29

---



BLUEWATER HOLDING B.V. (the "Company")

MINUTESof meeting of the Board of the Managing Director held at Hoofoddorp, The Netherlands at
[time] on [date] 2002

Present:
H.J. Heerema Managing Director and Chairman of the Meeting



There
being no further business, the Meeting closed.

---

H.J. Heerema

30

---



POWER OF ATTORNEY

of
Bluewater Holding B.V.(the "Company")

WHEREASthe Company proposes to enter into an account charge between Barclays Bank PLC, the Company and ING Bank N.V. (the "BH
Account Charge") dated on or about the date hereof.

By
this power of attorney, the Company, being a company duly incorporated under the laws of The Netherlands and with its registered office at Marsstraat 33, 2132 HR, Hoofddorp, The Netherlands HEREBY
APPOINTS [                        ] (the "Attorneys") to be the true and lawful
attorneys of the Company, jointly and severally, for the
following purposes:

The
Company hereby ratifies and confirms and agrees to ratify and confirm whatsoever any Attorney or the substitute of such Attorney shall do or purport to do by reason of these presents including
whatsoever shall be done between the time of revocation by any means of this Power of Attorney and such revocation becoming known to the said Attorney or, as the case may be, its substitute and hold
harmless and indemnify the Attorney or its substitute in respect of the same.

This
Power of Attorney is governed by the laws of The Netherlands.

This
Power of Attorney shall be irrevocable until and including [date].

31

---

IN WITNESSwhereof this Power of Attorney has been executed in accordance with the laws of The Netherlands this
[date] 2002.

|SIGNEDby Hugo Jan Heerema |  | ) |  |                                               |  | 
|------------------------- |  | - |  | --------------------------------------------- |  | 
|for and on behalf of      |  | ) |  |                                               |  | 
|BLUEWATER HOLDING B.V.    |  | ) |  | ............................................. |  | 
|in the presence of:       |  | ) |  | Hugo Jan Heerema                              |  | 

32

---



Schedule 5    Lessor Notice

[on letterhead of the Lessor]

|    |                                                                       |  |                            |  |                                     
|--- | --------------------------------------------------------------------- |  | -------------------------- |  | ------------------------------------
|To: | Norton Rose
By fax to: +33 1 53 89 56 56
For the urgent attention of: |  | Alison Baxter/Jill Whalley |  |                                     
|    |                                                                       |  |                            |  | Date [                        ] 2002

Dear
Sirs

Escrow Deed dated [                        ] 2002 (the "Escrow Deed")Lessor Notice

Words
and expressions defined in the Escrow Deed bear the same respective meanings herein.

Yours
faithfully

For
and on behalf of HILL SAMUEL LEASING (NO. 4) LIMITED

|       | 
|------ | 
|      
|By:    | 
|Title: | 

33

---

Schedule 6    Facility Agent Notice

[on letterhead of the Facility Agent]

|    |                                                                       |  |                            |  |                                     
|--- | --------------------------------------------------------------------- |  | -------------------------- |  | ------------------------------------
|To: | Norton Rose
By fax to: +33 1 53 89 56 56
For the urgent attention of: |  | Alison Baxter/Jill Whalley |  |                                     
|    |                                                                       |  |                            |  | Date [                        ] 2002

Dear
Sirs

Escrow Deed dated [                        ] 2002 (the "Escrow Deed")Lessor Notice

Words
and expressions defined in the Escrow Deed bear the same respective meanings herein.

Yours
faithfully

For
and on behalf of ING BANK N.V.

|       | 
|------ | 
|      
|By:    | 
|Title: | 

34

---

Schedule 7    Conditions precedent

Each
of the following items is to be in form and content acceptable to the Lessor and the Facility Agent respectively.

1          BH Corporate Documents

A copy of the BH Corporate Documents.

2          Escrow Deed and BH Account Charge

An original of this Deed duly executed by each party hereto, together with confirmation from the Escrow Agent that it is holding an original or fax copy of the
BH Account Charge pursuant to the terms of this Deed.

3          Netherlands opinion

An opinion of [                        ],
special legal advisers in The Netherlands to the Beneficiaries.

35

---

EXECUTION PAGE

|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of RANBERGER HOLDING N.V.by
its duly authorised attorney-in-fact                         | )
)
) /s/ REMCO BOKMA
) /s/ MRS PADILLA
)
)                       
|-------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of LULUDIA ASSET FINANCE B.V.by
its duly authorised attorney-in-fact
in the presence of: | )
)
) /s/ GERRIT KIERS
) /s/ HENK HEIJS
)
)
) /s/ MOHAMMED ZEMOURI
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of REFUGIO B.V.by
its duly authorised attorney-in-fact
in the presence of:               | )
)
) /s/ GERRIT KIERS
) /s/ HENK HEIJS
)
)
) /s/ MOHAMMED ZEMOURI
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of BLUEWATER OFFSHORE PRODUCTION SYSTEMSLIMITEDby
its duly authorised attorney-in-fact   | )
)
)
) /s/ JOHN COLLISON
) /s/ ALEX DE BRUIJN
)
)                
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of BLUEWATER ENERGY SERVICES B.V.by
its duly authorised attorney-in-fact                 | )
)
) /s/ HUGO JAN HEEREMA
) /s/ ALEX DE BRUIJN
)
)               
|THE COMMON SEAL OF HILL SAMUEL LEASING(NO.4) LIMITEDWas affixed
In the presence of                                                     | )
)
)
) /s/ L.J. HIGGS
) /s/ P.B. MILES                           
|                                                                                                                                       |                                                                   

36

---

|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of ALICE EXPLORATION FOUNDATIONBy Intertrust (Curaçao) N.V. and Mr G.E. Elias
its duly authorised attorney-in-fact
in the presence of: J.E. Manuel-v.d. Staal, Berg Arrarat 1, Curaçao   | )
)
) /s/ GREGORY ELIAS
) /s/ GREGORY ELIAS
)
) /s/ J.E. MANUEL
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of ARIEL EXPLORATION FOUNDATIONBy Intertrust (Curaçao) N.V. and Mr G.E. Elias
its duly authorised attorney-in-fact
in the presence of: J.E. Manuel-v.d. Staal, Berg Arrarat 1, Curaçao   | )
)
) /s/ GREGORY ELIAS
) /s/ GREGORY ELIAS
)
) /s/ J.E. MANUEL
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of ASTERIX EXPLORATION FOUNDATIONBy Intertrust (Curaçao) N.V. and Mr G.E. Elias
its duly authorised attorney-in-fact
in the presence of: J.E. Manuel-v.d. Staal, Berg Arrarat 1, Curaçao | )
)
) /s/ GREGORY ELIAS
) /s/ GREGORY ELIAS
)
) /s/ J.E. MANUEL
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of ING BANK N.V.by
its duly authorised attorney-in-fact                                                                                                                                  | )
)
) /s/ M KLEMME
) /s/ BRAM WIJNEN
)
)                       
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of BARCLAYS BANK PLCby
its duly authorised attorney-in-fact                                                                                                                              | )
)
) /s/ JOHN HOGARTH
)
)
)                                   
|EXECUTEDas aDEEDandDELIVEREDfor and on behalf of NORTON ROSEby                                                                                                                                                                         | )
)
) /s/ NORTON ROSE
)
)                                      

37

---