Rutter Awarded $1.3 Million in Local Oil & Gas Work

Rutter Inc.'s Engineering and Automation Division (formerly SEA Systems Limited) has been awarded two separate oil and gas related contracts in Newfoundland and Labrador collectively adding up to $1.3 million.

Transocean Canada Co. - This contract has been awarded to modernize the Rig Management System for Transocean's drilling vessel the Henry Goodrich, currently operating offshore Newfoundland. Valued at approximately $700,000, the contract calls for Rutter Engineering and Automation to replace the existing Rig Management System with a state-of-the-art control system which will monitor and control the vessel ballast, tank gauging, fire detection and suppression and power management systems. Rutter will be responsible for the design, programming and installation of the replacement system and will be expected to complete the work over a six to eight month period.

North Atlantic Refinery Limited - Rutter has also been awarded a contract related to North Atlantic Refining's Ultra Low Sulphur Diesel project, a $21 million diesel unit expansion that will enable the company to produce a virtually sulphur-free diesel fuel by May 2006. The contract, an offshoot of its Engineering Services agreement with North Atlantic, is valued at $600,000. Over the next six to eight months, this work will include electrical and instrumentation design and field support services for the installation and commissioning of the electrical switchgear associated with the diesel unit expansion.

"Over the past 10 years North Atlantic has invested over $500 million in upgrading its 105,000 bpd facilities at Come by Chance, NL and we have been fortunate to pick up some of that engineering and automation work directly and through joint venture arrangements," said G.C. (Gerry) Germain, President of Rutter's Engineering and Automation Division. "And we are certainly pleased to be able to build on our relationship with one of the largest industrial players in the Province."