CIU.L Regulatory News (CIU)

Cape Awarded Second Wheatstone Project Contract

Cape plc is pleased to announce that its wholly owned subsidiary Cape Australia Onshore has entered into an agreement with Bechtel for the provision of Painting, Insulation and Fireproofing Services on the Chevron-operated Wheatstone Project in Western Australia.

The contract, valued at over AUD 275 million (£155 million), is expected to create 490 new Australian jobs, all located onsite at Ashburton North, 12 kilometres west of Onslow in Western Australia. Jobs include over 390 metal workers, blaster and painters, cryogenic insulators and fire proofers supported by 100 supervision, safety, administration and management roles.

Joe Oatley, Chief Executive of Cape, said: 

"We are delighted to announce the award of this contract which will create new local employment opportunities and recognises the management and expertise of our recently reshaped Australian business. Building on Cape's considerable world-class LNG construction expertise, this contract will provide a solid base of project activity for our Australian business.

We look forward to working closely with our client, and supporting them by delivering safe, efficient and productive construction activities on one of Australia's largest resource projects."

About the Wheatstone Project:

The Chevron-operated Wheatstone Project is one of Australia's largest resource projects. Located at Ashburton North, 12 kilometres west of Onslow in Western Australia, the project will consist of two LNG trains with a combined capacity of 8.9 million tonnes per annum and a domestic gas plant. The Wheatstone Project is a joint venture between Australian subsidiaries of Chevron, Apache Corporation, Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shell and Kyushu Electric Power Company (Kyushu) together with PE Wheatstone Pty Ltd (part owned by TEPCO).

About Chevron Australia:

Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 60 years. With the ingenuity and commitment of more than 4,000 people, Chevron Australia leads the development of the Gorgon and Wheatstone natural gas projects; manages its equal one-sixth interest in the North West Shelf Venture; and operates Australia's largest onshore oilfield on Barrow Island. Chevron is also a significant investor in exploration offshore northwest Australia and onshore in the Nappamerri Trough, central Australia. Chevron's Perth-based Global Technology Centre provides technology support and solutions to the company's operations in Australia and around the world. www.chevronaustralia.com

About Bechtel:

Bechtel is among the most respected engineering, project management, and construction companies in the world. We stand apart for our ability to get the job done right-no matter how big, how complex, or how remote. Bechtel operates through five global business units that specialize in civil infrastructure; power generation, communications, and transmission; mining and metals; oil, gas, and chemicals; and government services. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries on all seven continents. Today, our 53,000 employees team with customers, partners, and suppliers on diverse projects in nearly 50 countries. For more information about Bechtel visit www.bechtel.com

About Cape

Cape plc (www.capeplc.com), which is listed on the main market of the London Stock Exchange, provides a range of essential industrial services including access systems, insulation, refractory linings, painting, coating, blasting, industrial cleaning, training and assessment to industrial plant operators and major international engineering and construction companies.

As a single source provider, Cape is able to provide a range of specialist multi-disciplinary services specifically tailored to meet the needs of the client providing the most intelligent and cost efficient solutions for clients' in-plant maintenance and capital needs.

In the year ended 31 December 2012, Cape reported adjusted revenues of £745.7 million. With scale and leading market positions across its international footprint, Cape employs over 21,000 people around the world.

For further information about Cape, please visit our website www.capeplc.com

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For more information contact:

Joe Oatley, Chief Executive Cape plc

Michael Speakman, Chief Financial Officer, Cape plc

Ruth Blanco, Investor Relations, Cape plc

+44 (0)1895 459 965

Bobby Morse, Ben Romney & Louise Mason, Buchanan

+44 (0)20 7466 5000