Expro International Group PLC
04 October 2002
For Immediate Release
4 October 2002
EXPRO INTERNATIONAL GROUP PLC
("Expro" or "the Group")
TRADING UPDATE
Expro International Group PLC, the oilfield service company, today announces
continued good progress in its business during the six months to 30 September,
2002, together with a recent increase in the level of enquiries and tender
activity, particularly in its businesses in Africa and Asia-Pacific.
Recent contract wins, totalling over £50m, include a five year contract
extension from Brass Oil for the provision of the Agbani production facility
offshore Nigeria, valued at £27m. In addition, Kufpec in Indonesia has awarded a
production solutions contract on their Oseil field development.
In North America, Expro's deepwater business remains strong. The Group expected
no recovery in shelf and land activity in the first half of the current year,
where trading continues as expected. However, market share gains have been made
through success on a number of new contracts, including the award by Shell of a
production enhancement contract covering shelf, land and deepwater for the next
two years.
In the North Sea, where the Group's services are particularly focused on well
uptime, production enhancement and subsea interventions, activity levels remain
similar to those of last year.
John Dawson, CEO of the Group, said " The overall performance of the Group
remains in line with market expectations. Against a general background of global
uncertainty, the Expro portfolio continues to demonstrate a robust and resilient
performance. The Group is well positioned in markets with long term growth
potential, with clients seeking our solutions to their field development and
production programmes."
For further information, please contact:
Expro International Group PLC 0118 959 1341
John Dawson, Chief Executive
Eric Woolley, Finance Director
Weber Shandwick Square Mile 020 7950 2800
Tim Jackaman or Rachel Taylor
This information is provided by RNS
The company news service from the London Stock Exchange
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