Expro International Group PLC
29 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-close
trading statement issued on 25th September 2007.
Three new contracts have been secured in the Asia region. The first is with
Total in Indonesia where Expro will provide mechanical wireline services in
support of the Sisi Nubi project. The two other wins in this region include a
contract via Expro's recently formed joint venture with COSL (China Oilfield
Services Ltd) in support of Husky's deepwater exploration programme offshore
China, and a further Welltesting contract for Thang Long in Vietnam. In the
deepwater programme for Husky, Expro will complement the excellent local
capability of COSL with our propriety deepwater subsea safety systems.
In Latin America our Production Systems group has been instrumental in
engineering a welltesting package to be permanently installed on a dedicated
welltesting boat. The contract is with ESLP, in support of Pemex's well
commissioning, 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 phased
over the coming 5 years.
Graeme Coutts, Chief Executive Officer, commented: "I am very pleased to be able
to announce these new high value contract awards. This additional USD 50 million
has come quickly after our pre-close trading statement and brings the total
value 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 of
our enhanced global infrastructure. This is further evidence of Expro's robust
international position in the global upstream sector."
- Ends -
For further information please contact:
Expro International Group PLC On 29 November 2007: 020 7067 0700
Graeme Coutts, Chief Executive Officer Thereafter: 0118 959 1341
Michael Speakman, Finance Director
Weber Shandwick Financial 020 7067 0700
Nick Oborne / Rachel Martin / Stephanie Badjonat
Notes to Editors
Expro's business is well flow management. Expro is a leading provider of
products and services that measure, improve, control and process flow from
high-value oil and gas wells. Key niche businesses must be able to command and
sustain market share leadership through a combination of technological
pre-eminence and/or operational economies of scale. They will have a high
knowledge and service content and will be able to anticipate, meet and exceed
customers' expectations. With its head office in the UK, Expro employs more than
4,000 highly-trained staff in 50 countries. For more information, please visit
the Expro website www.exprogroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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