IMV to Provide FEED for KNOC in Northern Alberta, Canada

IMV Projects, part of international energy services company John Wood Group PLC ("Wood Group"), has been awarded a C$4.5 million contract by Korea National Oil Corporation ("KNOC") to provide front-end engineering and design (FEED) services for their 10,000 BOPD BlackGold steam-assisted gravity drainage (SAGD) facility to be built in Northern Alberta.

"We are very excited to be working with KNOC on their first Canadian heavy oil development," said Ivan Velev, president of IMV. "We are looking forward to assisting them in realizing their goals and objectives in this new market."

IMV recently completed FEED and engineering, procurement and construction management (EPCM) services for a similar project in Alberta's Cold Lake Region in a time of 32 months from project kick-off to production start-up. IMV also served as prime construction contractor for the project, which was completed with 1.1 million man hours, in the field and office, with zero lost-time recordable incidents.