CUEL, Chevron Ink EPCI Deal for Services on Facilities Offshore Thailand

On Tuesday, September 2, 2008, Khun Narong Boonyasaquan, Managing Director of CUEL Limited, Khun Tara Tiradnakorn, President, Chevron Thailand Exploration and Production Ltd., and Brian Burke, General Manager, Assets, Chevron Offshore Thailand Ltd., signed an EPCI Contract between CUEL and Chevron covering the years 2009-2013 for the Engineering, Procurement, Construction and Installation approximately of 60 to 90 Wellhead Platforms, offshore facilities and associated pipelines.

The signing ceremony took place at Sofitel Centara Grand Bangkok and was witnessed by Khun Sivavong Changkasiri, Chairman of Board of Directors, CUEL, Joseph Geagea, Managing Director, Chevron Asia South Ltd. and Senior Executives of CUEL, Chevron and their Partners.

CUEL, under this 5 year contract will primarily use local materials and resources which will significantly contribute to the local economy and the development of Thai industry, aligning with the government policy of the Department of Mineral Fuels, Ministry of Energy, in developing Thai energy business and Thai economy as a whole.

Indeed, this contract represents a cornerstone of Thailand’s offshore E&P facilities development and initiates a significant step forward for CUEL and strengthens CUEL’s position with clients as a regional leader in construction for marginal field developments and a company that can execute projects to the highest quality while maintaining a high standard on Health, Environment, and Safety.