Cape awarded new contract in South Korea

News Release

22nd February 2016 

Cape awarded new contract in South Korea

Cape plc has secured a contract with Samsung Heavy Industries ("SHI") in South Korea for the installation of insulation to the Cryogenic Pipework on the Process Topside on Shell's Prelude Floating Liquefied Natural Gas ("FLNG") facility.

The Prelude FLNG facility is a global project with the key location for fabrication being in Geoje, South Korea. SHI's shipyard is where the substructure and topsides are currently under construction and is one of the few dry docks in the world large enough to undertake the fabrication. Once complete, the Prelude FLNG facility will be moored 475 kilometres north-east of Broome in Western Australia. The Prelude FLNG facility is 488m long, 74m wide and along with its contents, will weigh around 600,000 tonnes. It will be the largest floating offshore facility in the world.

Commenting on the contract award Joe Oatley, Chief Executive of Cape, said: "I am delighted that Cape has been able to secure this contract and that we will be further developing our relationship with Samsung Heavy Industries. Prelude will be the world's largest FLNG facility and we are proud to be involved with such a prestigious project."

About Cape:

Cape (www.capeplc.com), which is premium listed on the main market of the London Stock Exchange, is an international leader in the provision of critical industrial services principally to the energy and natural resources sectors. Our multi-disciplinary service offering includes access systems, insulation, specialist coatings, passive fire protection, refractory linings, environmental services, oil and gas storage tanks and heat exchanger replacement and refurbishment. Cape employs over 17,000 people working across 21 countries and in 2014 reported adjusted revenue of £698.3 million.

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Enquiries

Cape plc

Joe Oatley, Chief Executive +44 (0) 1895 459 979

Michael Speakman, Chief Financial Officer +44 (0) 1895 459 979

Buchanan

Bobby Morse, Ben Romney, Helen Chan +44 (0) 207 466 5000