Ivanhoe Energy Appoints AMEC as Preferred Contractor

Ivanhoe Energy Inc. has signed a Tier One agreement with AMEC for project management and engineering services for the development and deployment of Ivanhoe Energy's proprietary, patented heavy oil upgrading technology (HTL) on a global basis.

"We have had a strong relationship with AMEC for a number of years, having worked with them on various projects. We chose them as our preferred engineering contractor because of their size and experience, along with their special expertise and large customer base in the oil and gas industry. The scope that AMEC offers, such as offices in Houston, Texas and Calgary, Alberta, along with a strong international presence, will give us broad access to a full range of services around the world," said Joe Gasca, Ivanhoe Energy President and COO.

Neil Bruce, AMEC's Chief Operating Officer, Natural Resources, said, "Through our due diligence reviews and other activities on Ivanhoe Energy's HTL Technology, we believe that there is considerable potential in the commercialization of the process. AMEC welcomes the opportunity to continue, and further assist, Ivanhoe Energy in the development and ultimate deployment of the technology."

The agreement with AMEC brings Ivanhoe Energy a core team, knowledgeable in the HTL technology and in the deployment of new technologies that can be readily initiated when feasibility and engineering work is required on a global basis. In addition, through AMEC's varied client relationships, particularly in countries with potential for HTL application, AMEC may be able to provide access to alternative opportunities for Ivanhoe Energy.

Ivanhoe Energy is an independent international oil and gas development and production company focused on pursuing long-term growth in its reserve base and production using key technologies, including its proprietary heavy oil upgrading process (HTL), enhanced oil recovery (EOR) techniques and the conversion of natural gas to liquids (GTL). Core operations are in the United States and China, with business development opportunities worldwide.

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Posted 09/11/06

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