Expro Awarded Contracts Valued at £46 million

Expro International Group PLC ("Expro" or the "Group") has been awarded 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."

Find out more about:
The Expro Group
BHP Billiton
Royal Dutch Shell plc
Chevron Corporation
Woodside Energy
Repsol YPF, S.A.
BP
Total
BG Group

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Posted 31/05/06

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