Sovereign Announces Major Wood Group Contract

Aberdeen-based Sovereign Oilfield Group Plc said that its subsidiary, Sovereign Dimensional Survey Ltd. (SDS), recently won a significant contract with Wood Group Engineering (North Sea).

The contract was awarded for the provision of dimensional control and laser scanning services for the North Sea and other international work. The duration of the contract will be for 3 years, running from 11 June 2007, with an option for Wood Group Engineering (North Sea) to renew for a further year. The value of this contract is estimated to be in excess of £1 million per annum.

Commenting on this development, Graham Burgess, Chief Executive Officer of Sovereign, said:

"We are delighted with the confidence that Wood Group Engineering (North Sea) have shown in SDS. The management team at SDS has worked hard to win this contract. It is indicative of SDS's strong growth since the company's inception in September 2006. Order books are at record levels and SDS continues to perform strongly."

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