Exhibit
4.76


Execution Version


Notice of
Assignment in relation to Statoil


	
  To:

  	
   

  	
  Statoil Orient Inc. (“Statoil”)

  
	
   

  	
   

  	
  20/F., Times Plaza,

  
	
   

  	
   

  	
  No. 1 Taizi Road

  
	
   

  	
   

  	
  Shekou, Shenzhen

  
	
   

  	
   

  	
  P.R. China  518067

  
	
   

  	
   

  	
  Attn: Lucy Li Xin.

  



 


NAVION
MUNIN FIELD CONTRACT


We refer to contract
no.SC05005B dated 5 April, 2005, made between Statoil and Bluewater Energy
Services B.V. (“BES”) in relation to the vessel
m.v. “MUNIN” registered in the Netherlands Antilles at the port of Willemstad,
Curaçao (the “Vessel”) (as amended and
supplemented from time to time prior to the date hereof or, with the consent of
the Assignee (as defined below), after the date hereof) (“Navion Munin
Field Contract”).


We hereby give you
notice:


1                                that,
by a general assignment supplemental deed (the “Assignment”)
dated 12 July 2006 made between (inter alios) us and ING Bank N.V. (in its
capacity as security trustee) (the “Assignee”), we
have assigned by way of security to the Assignee all of our rights, title,
interest, and benefit (present and future, actual and contingent) in, to, under
and pursuant to the Navion Munin Field Contract including (but without
prejudice to the generality of the foregoing) our rights to receive monies and
make claims for damages under and pursuant to the Navion Munin Field Contract;


2                                that,
unless and until you receive notification from the Assignee or ING Bank N.V. as
contemplated by paragraph 4 below, you are irrevocably authorised and
instructed to pay all Compensation (as defined in contract no.SC05005B referred
to above) to such account as we may from time to time direct;


3                                that,
unless and until you receive notification from the Assignee or ING Bank N.V. as
contemplated by paragraph 4 below, you are irrevocably authorised and
instructed to pay all other amounts to account name “LDC Assigned Account ”, account number 02.00.46.588,
with ING Bank N.V.,  acting through
its Amsterdam head office, or to such other account as ING Bank N.V., acting
for these purposes as the agent of the Assignee, may from time to time direct;


4                                that,
at all times after the Assignee or ING Bank N.V., acting for these purposes as
the agent of the Assignee, notifies you in writing that the Assignment has
become enforceable, you are irrevocably authorised and instructed to pay all
amounts payable to us under and pursuant to the Navion Munin Field Contract
(including all amounts referred to in paragraphs 2 and 3 above) to account name
“LDC Assigned Account ”,
account number 02.00.46.588, with
ING Bank N.V., acting through its Amsterdam head office, or to such other
account as ING Bank N.V. acting for these purposes as the agent of the
Assignee, may from time to time direct;


5                                that
each amount paid by you in accordance with paragraph 2, 3 or 4 above shall
discharge, by a corresponding amount, your payment obligations under the Navion
Munin Field Contract; and


6                                that,
unless and until you receive notification to the contrary from the Assignee or
ING Bank N.V., acting for these purposes as the agent of the Assignee, we
continue to be entitled (without any requirement to first obtain the consent of
the Assignee or any other person) to grant any consent, exercise any discretion
or determine any matter, or to enforce or exercise any right, remedy or power
under or in relation to, the Navion Munin Field Contract.


Please acknowledge
receipt of this notice by signing the acknowledgement endorsed on the enclosed
duplicate of this notice and returning that duplicate direct to the Assignee at
the address shown, with a copy to us.



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For and on behalf
of

BLUEWATER ENERGY SERVICES B.V.

by its duly authorised attorney-in-fact


	
  

  	
   

  	
  /s/ Anna Simpson

  	
   

  	
   

  
	
   

  	
   

  	
  Attorney In Fact

  	
   

  	
   

  
	
  Dated 12 July 2006

  



 


 


Confirmed and
agreed

ING BANK N.V.

by its duly authorised attorney-in-fact


	
  

  	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated 12 July 2006

  




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  To:

  	
  ING Bank N.V.

  
	
   

  	
   

  
	
  Copy:

  	
  Bluewater Energy Services B.V.

  



 


We acknowledge receipt of
the notice set out above and consent to the assignment referred to therein.


For and on behalf
of

Statoil Orient Inc.

by its duly authorised officer


	
  

  	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated 14/08 2006

  



 



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