Engage Xr Regulatory News (EXR)

31 May 2007 07:03

Expro International Group PLC31 May 2007 31 May 2007 EXPRO INTERNATIONAL GROUP PLC ("Expro" or "the Group") Expro secures new contracts worth US$400m (£200m), taking order book to a record US$1.2bn (£600m) and announces the winning of a second RoSPA sector award Expro International Group PLC ("Expro" or the "Group") today announced the awardof contracts totalling US$400 million across both its Global and RegionalBusinesses. In the Global Businesses, where Expro has strong technical positions, US$50million of new business was secured in the subsea segment, spread geographicallyacross all areas. These awards are predominantly with blue chip internationaloil and gas operators looking to increase their focus on finding and developingreserves from deepwater areas. The contracts span Expro's high specificationsubsea tools as well as seabed instrumentation and connectors. An additionalUS$50 million of new business has also been secured in the Production Solutionssegment for the provision of Early Production Facilities with notable awards inBrazil on the Siri project and in Indonesia for Rubicon. In the Regional Businesses, where Expro now enjoys enhanced presence followingthe Power Well Services acquisition, the Group provides products and services on a call-off basis from a comprehensive global infrastructure. Total new Regionalcontract awards came to US$300 million. All geographic regions enjoyed contractwins with the most notable being a new, four year multi-service contract withPetrobras in Brazil, the first with this key customer in Expro's history. The total of these awards has helped Expro achieve a record order book, whichnow stands at US$1.2 billion across the Group. Conversion of the backlog torevenue varies from contract to contract, with some phased out over three tofive years improving the visibility of future revenue streams. Expro has again been recognised for performance in health and safety, winningthe prestigious RoSPA oil and gas industry sector award for the secondconsecutive year. This achievement has been made during a year of significantchange, including the acquisition of PWS, requiring the extension of our healthand safety culture to a considerably enlarged workforce. Commenting on today's announcement, Group CEO Graeme Coutts said: "Expro placesa great deal of emphasis on customer care in carrying out our strategy. Theacquisition of PWS has given us an increased customer base and new geographicopportunity. This has enabled the Group to establish a record order bookconfirming the strength of our approach. Expro's global customer portfolio nowshows a healthy balance between international and national customers. Thisposition will allow Expro to distribute our technology more effectively and helpour customers meet the increasing challenges of finding and exploiting their oiland gas reserves." - Ends - For further information please contact:Expro International Group PLC On 31 May 2007: 020 7067 0700Graeme Coutts, Chief Executive Officer Thereafter: 0118 959 1341Michael Speakman, Finance Director Weber Shandwick Financial 020 7067 0700Kirsty Raper / Rachel Taylor / Stephanie Badjonat Notes to EditorsExpro's business is well flow management. Expro is a leading provider ofproducts and services that measure, improve, control and process flow fromhigh-value oil and gas wells. Key niche businesses must be able to command andsustain market share leadership through a combination of technologicalpre-eminence and/or operational economies of scale. They will have a highknowledge and service content and will be able to anticipate, meet and exceedcustomers' expectations. With its head office in the UK, Expro employs more than4,000 highly-trained staff in 50 countries. For more information, please visitthe Expro website www.exprogroup.com This information is provided by RNS The company news service from the London Stock Exchange