Offshore Solutions in Final Talks with Shell Qatar for Safe Access System

Offshore Solutions B.V. is in the final stages of negotiations with Shell Qatar for the provision of its unique innovative product, the Offshore Access System, which allows the safe transfer of personnel from a vessel to an offshore installation.

The Offshore Access System (OAS) is to be used for the Pearl GTL project being built in Ras Laffan Industrial City in Qatar. Pearl GTL will be the world's largest gas-to-liquids project, converting natural gas into a range of high quality liquid hydrocarbon products.

This fully integrated project is being developed under a Development Sharing Agreement with the government of the State of Qatar. Pearl GTL will have the capacity to produce 140,000 barrels a day (b/d) of GTL products -- gasoil, naphtha, kerosene, paraffin and lubricants base oils -- as well as 120,000 barrels of oil equivalent a day of ethane, liquefied petroleum gas (LPG) and condensate.

The project is being developed in two phases, with the first phase starting up around the end of the decade. It will help Qatar meet its aspiration of becoming the GTL capital of the world.

The OAS is due to be delivered in Qatar during the first half of 2009.

The negotiation for this contract comes as a direct result of the operational success of the first Offshore Access System leased by Shell and working daily in the Southern North Sea for over two and a half years.