Expro International Group PLC
31 May 2006
Embargoed until 07.00 Wednesday, 31 May 2006
EXPRO INTERNATIONAL GROUP PLC
Expro Announces £46 million of Contract Wins
Expro International Group PLC ("Expro" or the "Group") today announced the award
of contracts totalling £46 million. The awards are geographically spread
throughout both its Global and Regional Businesses.
In the Global Businesses, where Expro has strong technical positions, £20
million of new business was secured in the subsea safety tools segment with BHP
and Shell in the Gulf of Mexico and from increased scope of work on the
previously announced ground breaking deepwater Tahiti project for Chevron.
Contracts with Woodside for the provision of the GOLD onsite fluids analysis
system and a small Early Production Facility (EPF) in Indonesia are valued at £6
million.
The Regional Businesses, where Expro provides product and service on a call-off
basis from its comprehensive global infrastructure, also recorded wins of £20
million from contracts with Repsol, bp, Total and First Calgary in Algeria, as
well as Woodside in Mauritania and Libya and British Gas in Tunisia. These
contracts were mainly for the provision of well testing and data acquisition.
The total of these awards has helped Expro achieve record levels of order
backlog, which now stands at £419 million across the Group. Conversion of the
backlog to revenue varies from contract to contract, with some phased out over
3-5 years improving the visibility of future revenue streams.
Commenting on today's announcement, Group CEO Graeme Coutts said: "Expro places
a great deal of emphasis on customer care in carrying out our strategy. This has
enabled the Group to be well positioned to assist our clients as market
conditions have steadily improved. The level of our order backlog confirms the
strength of our approach, and indeed the equally positive level of customer
enquiries continues to support our view that the market for late cycle upstream
services has not yet peaked."
- Ends -
For further information please contact:
Expro International Group PLC 0118 959 1341
Graeme Coutts, CEO
Michael Speakman, Finance Director
Weber Shandwick Square Mile 020 7067 0700
James Chandler / Rachel Taylor / Stephanie Badjonat
Note to Editors:
Expro is one of the leading UK international oilfield services companies,
supplying services and products fundamental to the safe, efficient and economic
exploitation of hydrocarbon reserves. Expro provides the international oil and
gas industry with a range of high value added, differentiated services focused
on improving well-performance and optimising well production in a safe and
environmentally friendly way. The Expro Group employs over 2,300 people and
operates in fifty countries worldwide. For more information, please refer to the
Group's website at www.exprogroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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