CIU.L Regulatory News (CIU)

19 Apr 2007 07:01

Cape PLC19 April 2007 Cape PLC ("Cape" or the "Company") Contract awards Cape PLC (AIM:CIU), the international provider of essential support services tothe energy sector, is pleased to announce that it has been awarded a significantnew contract by John Wood Group PLC to perform a full range of fabricmaintenance services on the Shell St Fergus and Mossmorran Terminals inScotland. The contract is for five years with options to extend twice for a further twoyears on each occasion - a total of nine years. The contract will be servicedfrom Cape's Aberdeen depot. The contract follows Shell's announcement last week of the commencement of a£350 million Rejuvenation Project that will extend the life of three of theironshore installations (including St Fergus and Mossmorran) to the year 2021. Cape also work for Shell elsewhere in the UK and on Sakhalin Island where Shellis one of the leading partners in Sakhalin Energy, a consortium that isdeveloping the world's largest single integrated oil and gas project. Caperecently completed two million man hours of working without a lost time incidenton the multi-billion dollar Sakhalin II project which will construct Russia'sfirst liquefied natural gas plant. Cape is also pleased to announce the award of a c. US$2.6 million contract toprovide pipework insulation on six floating production, storage and offloading(FPSO) modules to be built by Cape's client, Sembawang Marine & OffshoreEngineering Pte Ltd, for ConocoPhillips' Phase II development in the Bohai Seaoff the north-east coast of China. Safety award In April 2007, Cape's workforce in the Philippines was awarded a plaque ofachievement for successfully completing 500,000 man-hours, without a lost timeincident, on the Goro Nickel Modular construction project located in Batangas.Cape is engaged in fibre re-inforced plastic (FRP) fabrication, accessmanagement, and FRP installation and insulation as part of modularization workfor Inco Management, which forms part of the US$1.8 billion nickel-cobalt miningproject on New Caledonia, a French overseas territory in the Coral Sea, west ofAustralia. Martin May, Cape's Chief Executive, said, "We are delighted to have been awardedthis contract by Wood Group to work on two of Shell's largest terminals in theUK." George Brown, Managing Director of Wood Group, said: "We are pleased to beworking closely again with Cape on this major project. The strength of ourrelationship with Cape and their ability to deliver were instrumental in theaward of this contract." ENDS For further information, please contact: Cape PLCMartin May, Chief Executive +44 (0)1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 / +44 (0)7811 358 764 Notes to editors Cape PLC is the parent company of a number of service providing organizationsoperating primarily in the oil and gas, petrochemical and power generationindustries. In the year to 31 December 2006, Cape reported turnover of £295.5 million. Cape currently employs c. 8,200 people in 23 countries worldwide. Cape specialises in the provision of scaffolding, insulation, fire protection,specialist cleaning and other essential services to major industrial clients inthe energy sector. Cape's ability to provide specialist cleaning services was enhanced by theacquisition of DBI Group Limited in October 2006. On 22 March 2007, Cape announced the placing, subject to shareholder approval atan EGM to be held on 23 April 2007, of 26,923,077 ordinary shares at £2.60 pershare to raise approximately £70m (before expenses). This information is provided by RNS The company news service from the London Stock Exchange