Wood Group signs with Sevan Marine in Brazil

Sevan Marine has contracted a subsidiary of international energy services company John Wood Group PLC (Wood Group) to provide operations and maintenance (O&M) for the SSP Piranema FPSO vessel, which will be operated for Petróleo Brasileiro S.A.-Petrobras on the Piranema field, offshore northeast Brazil. The five-year, extendable contract is valued at approximately $7 million per year.

Offshore staff

(Brazil) Sevan Marine has contracted a subsidiary of international energy services company John Wood Group PLC (Wood Group) to provide operations and maintenance (O&M) for theSSP Piranema FPSO vessel, which will be operated for Petróleo Brasileiro S.A.-Petrobras on the Piranema field, offshore northeast Brazil. The five-year, extendable contract is valued at approximately $7 million per year.

Wood Group Engineering and Production Facilities will have complete responsibility for O&M management and execution, including onshore technical, logistical and supply chain support, and for the operational efficiency and performance of theSSP Piranema.

This FPSO will be the first implementation worldwide of Sevan Marine's Sevan Stabilized Platform (SSP) cylindrical mono-hull design. TheSSP Piranema is designed to accommodate 30,000 b/d process plant capacity, a gas injection plant with compression capacity of 3.6 MMcm/d, and oil storage capacity of 300,000 bbl, and will be prepared to receive up to 21 risers.

Wood Group is providing a number of support services during the design and construction phase, including operations and process engineering support to review the topsides design, and is participating in hazardous operations reviews. Additional support is expected to be provided during the pre-operations and commissioning phases of the project. Day-to-day operations and maintenance of theSSP Piranema will require approximately 60 full-time personnel, 95% of whom will be Brazilian nationals.

09/14/05

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