Velosi Snags Service Contract from ConocoPhillips Indonesia

Velosi Ltd.

Velosi Limited has been awarded a new quality assurance, quality control and quality surveillance services contract with ConocoPhillips Indonesia Inc. Ltd.

The contract began in June 2008 for a period of three years. Under the terms of the contract Velosi will audit and inspect pipe mills, valve suppliers, fabrication yards and project sites to verify that the planning and execution of manufacturing, construction and testing are carried out to meet the criteria in purchase orders and main contracts.

This new contract will increase Velosi's presence in Indonesia, Europe,the USA, Malaysia, Singapore and China, through work with international vendors.

Commenting on this contract Dr. Nabil Abdul Jalil, Chief Executive Officer of Velosi, said, "We are delighted to have been awarded this contract from ConocoPhillips Indonesia Inc. Ltd. To be given the opportunity to continue building and developing the Group's relationship with such a reputable multinational is an excellent reflection of our client's continued confidence in our ability to provide a top-level service on a global basis."