Cape secures Clair Ridge contract with BP

News Release

30 July 2015

Cape secures Clair Ridge contract with BP

Cape plc, an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to extend our current relationship with BP with the award of a new Clair Ridge contract for £9.8m, with further future phases added over the next 18 months.

Clair Ridge, 75km west of Shetland, is the second phase of development within the Clair field - the largest undeveloped hydrocarbon resource on the UKCS. The contract is in support of the hook-up and commissioning of BP's two new bridge-linked Clair Ridge platforms. Effective from July 2015, the contract will secure around 170 jobs for Cape employees through the provision of core services including access, insulation, coating, passive fire protection and platform services for the Clair Ridge hook-up work.

Joe Oatley, Chief Executive, Cape plc: "We are delighted to be awarded this further contract by BP. Cape has a longstanding relationship with BP and we look forward to continuing to work with this important client to deliver our critical industrial services to this 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 +44 (0) 207 466 5000

Bobby Morse, Ben Romney