Sovereign Oilfield Awarded 'Several Significant Contracts' in N. Sea

Sovereign Oilfield Group Plc, the Aberdeen-based diversified oilfield services group, announces that its Fabrication Division, which consists of seven operating subsidiaries, has recently been awarded several significant contracts totaling UK7.35 million.

OIL Engineering Limited, specialists in structural and pipework fabrication services, has been awarded two contracts. One for the manufacture of manifolds for the North Sea Victoria Project at a value of UK1.0 million, and the other for the manufacture of lifting/handling frames for Acergy Norway AS -- value UK0.5 million.

Vertec Engineering Limited, designers and manufacturers of specialised fire protected cabins and local equipment rooms for the oil and gas, renewables and transport industries, have been awarded contracts totalling UK2.85 million. This includes a contract with FMC Technologies Inc for UK1.2 million for the manufacture of a VSD Module, and a contract with Saipem America Inc for the manufacture of A60 workshop/control vans at a value of UK0.65 million.

Forfab Limited, have been awarded contracts estimated to be in excess of UK1.0 million for the design and manufacture of storage and pressure vessels for export to the Middle East.

Labtech Services Limited, which designs, manufactures and hires containerised and skid mounted equipment, have been awarded a contract to design, fabricate and install an accommodation module onboard a North Sea drilling rig. This contract is valued at UK1.0 million.

Meanwhile, Oil Engineering Middle East LLC, based in the Group's new facilities in Abu Dhabi, has been awarded a contract for the fabrication of 2 accommodation modules for FPSOs currently under manufacture in the Middle East. The contract value is estimated to be in excess of UK1.0 million.

Commenting on these developments, Graham Burgess, Chief Executive Officer of Sovereign, said, "We are delighted to announce these contract awards. The Fabrication Division is now a leading provider of international manufacturing services and products that add value to our extensive customer base. Our fabrication companies have consistently performed strongly, growing significantly year on year."

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