29th Nov 2007 07:01
Expro International Group PLC29 November 2007 NEWS RELEASE 29 November 2007 EXPRO INTERNATIONAL GROUP PLC Expro Announces additional contract awards of over USD 50 million bringing total of new contract awards to over USD 350 million New contract wins totalling over USD 50 million Expro today announces additional contract awards valued at over USD 50 million.The awards are in addition to the USD 300 million announced in the pre-closetrading statement issued on 25th September 2007. Three new contracts have been secured in the Asia region. The first is withTotal in Indonesia where Expro will provide mechanical wireline services insupport of the Sisi Nubi project. The two other wins in this region include acontract via Expro's recently formed joint venture with COSL (China OilfieldServices Ltd) in support of Husky's deepwater exploration programme offshoreChina, and a further Welltesting contract for Thang Long in Vietnam. In thedeepwater programme for Husky, Expro will complement the excellent localcapability of COSL with our propriety deepwater subsea safety systems. In Latin America our Production Systems group has been instrumental inengineering a welltesting package to be permanently installed on a dedicatedwelltesting boat. The contract is with ESLP, in support of Pemex's wellcommissioning, testing and clean-up operations. The total value of these contracts in their initial terms is over USD 50m.Contracts are due to commence late in this financial year with revenues phasedover the coming 5 years. Graeme Coutts, Chief Executive Officer, commented: "I am very pleased to be ableto announce these new high value contract awards. This additional USD 50 millionhas come quickly after our pre-close trading statement and brings the totalvalue of contract awards announced in the last 2 months to over USD 350 million.These contracts highlight the strength of our service portfolio and the value ofour enhanced global infrastructure. This is further evidence of Expro's robustinternational position in the global upstream sector." - Ends - For further information please contact:Expro International Group PLC On 29 November 2007: 020 7067 0700Graeme Coutts, Chief Executive Officer Thereafter: 0118 959 1341Michael Speakman, Finance Director Weber Shandwick Financial 020 7067 0700Nick Oborne / Rachel Martin / Stephanie Badjonat Notes to EditorsExpro's business is well flow management. Expro is a leading provider ofproducts and services that measure, improve, control and process flow fromhigh-value oil and gas wells. Key niche businesses must be able to command andsustain market share leadership through a combination of technologicalpre-eminence and/or operational economies of scale. They will have a highknowledge and service content and will be able to anticipate, meet and exceedcustomers' expectations. With its head office in the UK, Expro employs more than4,000 highly-trained staff in 50 countries. For more information, please visitthe Expro website www.exprogroup.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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