CIU.L Regulatory News (CIU)

18 Jan 2010 07:00

Embargoed: 0700hrs, 18 January 2010

CAPE FAR EAST PACIFIC RIM WINS SHELL OFFSHORE CONTRACT

Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to announce that it has been awarded additional contracts with Shell Philippines Exploration B.V. valued at US$10m.

Cape has secured the Shell Malampaya 2010 Shutdown Isolation Package which comes on the back of the recently awarded "Offshore Hook Up and Commissioning Contract" on the Shell Malampaya Offshore Shallow Water Platform. The shutdown will be executed in the first quarter of 2010 whilst the Hook Up and Commissioning contracts are expected to complete in June 2010.

Shell Philippines has engaged Cape to provide multiple services during these contracts ranging from core skills such as access, insulation, protective coating systems, rigging to specialist skills including mercury handling, nitrogen purging and flushing and pressure and leak testing. 

Martin May, Chief Executive of Cape plc, commented,

"Cape has been actively engaged on the Shell Malampaya Offshore and Onshore assets in the Philippines for ten years and we are delighted to be appointed to carry out our third shutdown. Cape is uniquely placed to provide such an extensive range of diverse and complex services."

For further information please contact:

Cape plc Martin May, Chief Executive Tel. +44 (0)20 3178 5498

M: CommunicationsPatrick d'Ancona or Ben Simons Tel. +44 (0)20 7920 2340

About Cape:

Cape plc (www.capeplc.com), which is listed on AIM (CIU), provides a range of non-mechanical industrial services including common user access systems, insulation, refractory, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.

Cape employs c.14,000 people in 28 countries with its four main markets being the UK, Gulf/Middle East, CIS, Mediterranean and North Africa, and the Far East/ Pacific Rim.

In the year ended 31 December 2008, Cape reported turnover of £622.7 million. Cape is due to report results for the year ended 31 December 2009 on 10 March 2010.