Algeria: Euro 27 million contract awarded to Cape

Sonatrach

Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, has recently been awarded a contract valued in excess of Euro 27 million in Algeria. The contract, awarded by Snamprogetti Chiyoda s.a.s. di Saipem S.p.A., is for the provision of the total insulation works for the Sonatrach GL3-Z LNG Project in Arzew, Algeria. The work will commence in the first quarter of 2011 with completion scheduled for the first half of 2012.

This award marks the first major LNG project contract win for Cape in North Africa since the Damietta LNG project in Egypt in 2002.  The GL3-Z single train LNG processing facility will have a liquefaction capacity of 4.7 million tonnes per annum and is scheduled for completion in 2013.

Martin May, Chief Executive of Cape plc, commented: "This is another significant award for Cape, in the strategically important LNG sector in which we currently work around the world in places such as Australia, Qatar, Sakhalin and Chile. We are delighted to again be working in Algeria which is already the fourth largest LNG exporting country in the world. With its continuing growth plans, Algeria represents a key market for Cape, and we look forward to building on this relationship with Snamprogetti Chiyoda s.a.s. di Saipem S.p.A "