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July 2005 - Hydrasun awarded major contract by BP Exploration (Caspian Sea) Ltd

Hydrasun is pleased to announce the award of a contract by BP Exploration (Caspian Sea) Ltd for Hose Integrity Management Services and Product Supply to support their operations in Azerbaijan and Georgia. This long-term contract with an estimated value of $5 million, encompasses complete hose management of all of BP's assets in the region including the Chirag Platform, ACG facilities, Sangachal Terminal, Western Route Export Pipeline (WREP), Supsa Terminal, Northern Route Export Pipeline (NREP), Baku Tbilisi-Ceyhan (BTC) Pipeline and the Shah Deniz Gas Export Project.

To support this contract a joint venture company Hydrasun Rapid Solutions has been established in Baku, Azerbaijan that combines Hydrasun UK’s considerable operating experience in the field of fluid transfer and process control products with the local knowledge and expertise of Rapid Solutions Ltd providing BP and other customers in the region with a unique service solution focussed on their needs.

A comprehensive inventory of products to meet industry needs has been established offering fast track, off the shelf, product availability that will be supplemented over time as Hydrasun’s knowledge of customer requirements in-country develops. A comprehensive nationalisation programme has commenced providing full product awareness and hose assembly, inspection and maintenance training to a number of Azeri personnel to ensure that the availability of product is complemented by a first class back-up support service.

Commenting on this recent success Hydrasun’s Chief Executive Officer Bob Drummond remarked "Hydrasun’s success with this contract award marks a milestone in the development of the company and our desire to achieve further international recognition as a market leader in the high service, high quality and high reliability segments of the markets in which we operate. It further consolidates the well established relationships we have with BP UKCS and provides us with the opportunity to further enhance our service capability by delivering a range of services that add value both directly and indirectly to BP’s operations in the Caspian Region".