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For Immediate Release

Signing Ceremony For CPOC Phase II Project

Bangkok, 19 September 2007
- CUEL Limited, a Thailand-based offshore construction company, held the contract signing ceremony for Carigali - PTTEP Operating Company (CPOC) project at its yard in Laem Chabang, Chonburi on 5 September 2007. The signing was accomplished by Mr. Narong Boonyasaquan, Managing Director of CUEL Limited and Mr. Chong Hin Loon, Deputy Executive Chairman of Kencana HL Sdn Bhd.

The CPOC project Phase II will be located in the Malaysia – Thailand Joint Development Area (MTJDA) Block B-17, in the Gulf of Thailand. This project is the joint execution with CUEL’s Malaysian partner, Kencana. The work scope for the project includes Engineering, Procurement, Fabrication, Pre-commissioning and Loadout of a Living Quarter’s Jacket and a Flare tripod, which are scheduled to sail away in July 2008 and July 2009 respectively. The total weights for both structures are approximately 3,000 tones.

 
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