SERVICE | SUPPLIERS

Feb. 3, 2014

BENTEC GMBH DRILLING

German based manufacturer of drilling rigs and equipment, Bentec has won the largest single contract in its 20 year history. The multi-million dollar contract was awarded by Algerian state owned drilling contractor, Enafor and will see Bentec deliver seven desert drilling rigs within the next 17 months.

All drilling rigs will be fully equipped with Bentec equipment, including top drives, pumps, drawworks, power control rooms and electrical controls, all of which are manufactured at Bentec's Bad Bentheim site. Bentec previously sold and successfully delivered four drilling rigs to Enafor in 2013.

Dirk Schulze, Bentec Chief Executive Officer said: "We are extremely proud to have secured our largest deal since the company was established in 1994. We work hard to maintain the highest quality standards across our drilling rig systems and this success is testament to that, the services we provide and our continued commitment to developing additional business in Algeria."

CGG

CGG announced that it has extended its data library of shale acreage in the United States by completing a vast three-year multi-client 3D land seismic program targeting the Marcellus Shale Fairway. CGG conducted the 1,566-square-mile program in six phases in Lycoming, Tioga, Clinton, Centre and Clearfield Counties in Central Pennsylvania.

As the terrain in Central Pennsylvania gradually became more rugged and mountainous, CGG switched from deploying the Sercel 428XL cable acquisition system to using the Sercel UNITE(R) wireless acquisition system to acquire the complex seismic program.

By the end of 2014 all six phases will be merged together to offer a seamless data set processed with state-of-the-art interpolation and migration techniques over the entire program. Currently this data set is available over the Lycoming II and Brookside portions of the survey.

Jean-Georges Malcor, CEO, CGG, said: "Our three-year Marcellus Fairway survey has been the cornerstone of our strategy to develop a robust multi-client data library of shale acreage in North America. Representing over 118,000 shots and millions of receiver locations, we have completed one of the most difficult and challenging programs in the history of US onshore seismic. We are confident that the merged survey will produce the best image and reservoir attributes possible of the Marcellus Shale to help our clients decide which leaseholds to develop first and how to optimize their drilling and completion programs to avoid hazards and maximize production."

ECO-STIM ENERGY SOLUTIONS, INC.

Announced that it has completed the lease financing for the package of oilfield completion equipment that will be exported to Argentina. This equipment consists primarily of a coiled tubing unit and various pieces of complementary equipment. In this transaction, EcoStim has sold the equipment package to a third party leasing company controlled by two of the Company's Directors for $3.5 million.

Simultaneously, the equipment package was leased back to an affiliate of the Company for a 60-month period beginning in February 2014. EcoStim's President and CEO Chris Boswell stated, "This financing was completed under competitive market terms and conditions and provides working capital to support operational startup costs while minimizing dilution to existing shareholders. We are working on the acquisition of additional equipment, both locally in Argentina and in the North American market, to further support our growing business in Argentina and the world class Vaca Muerta shale play."

ENNSUB

The independent subsea design, engineering and technology company, has secured an order book with options in excess of £7.5 million for execution in 2014, a large proportion of which is for major international subsea installation contractors.

The company is headquartered in Westhill, Aberdeen, and has invested £500,000 in a new production facility in Teesside, north-east England with product assembly and test facilities, client offices and a 3D design theatre.

The company offers a range of deep and ultra-deepwater deployment solutions for ROVs, subsea modules and bespoke subsea packages in addition to a suite of pipeline installation-related products and pipeline repair solutions. The company adopts an operationally-led approach to design to suit the specific requirements of its customers.

"Competing against recognized subsea stalwarts is a challenge but we like to think our agile approach to business and thorough understanding of what the end user needs, differentiates us from our peers. We are extremely proud of the results already achieved and look forward to building on our success and strengths to become a world leader in the subsea sector."

Ennsub has also secured the internationally recognized ISO 9001 accreditation for quality.

John Smith, the former CEO of Subsea 7, is a non-executive director of Ennsub. He said the firm shows strong promise of achieving its business goals going forward.

"Our team have years of hands on experience which gives them a thorough understanding of our customers' operational and commercial drivers. That, combined with innovative product design, allows us to deliver direct cost and efficiency savings to clients. We are looking to 2014 with great optimism and a strong order book for sizeable subsea contracts."

GE Oil & Gas

Announced it has received a contract to provide a turnkey turbomachinery solution to Petrofac Emirates for the Upper Zakum UZ750 field in Abu Dhabi, developed by ZADCO (Zakum Development Company).

The turbomachinery equipment will be delivered in the form of massive, standalone, plug-and-play "modules," which will ship intact from GE's advanced construction facility in Avenza, Italy, to an artificial island located 50 miles offshore of Abu Dhabi. Each module will weigh more than 1,500 tons and be 44 meters long, 20 meters wide and 24 meters high. These six "mega structures" will serve as the housing in which a turbogenerator train is located that will provide electric power to ZADCO's oil production facilities, including pumps and gas compressors, also on the island.

The advanced module design was most recently deployed during the construction of five massive systems developed for Australia's Gorgon field, one of the largest and most complex gas fields in the world. Like those made for Gorgon, these modules will be assembled, commissioned and tested ahead of shipment to the Emirates so that once they arrive on location they can be simply and quickly installed and ready for operation. The module design and enhanced testing is advantageous to customers as it reduces the total footprint of operations as well as reduces the amount of time between equipment delivery and startup of operation, minimizing execution risks at site.

"Whether it's GE's unique expertise in the development of these massive plug-and-play modules, our advanced LNG technologies or our work in subsea fields, GE is actively supporting some of the world's largest natural gas projects," said Rafael Santana, CEO and president, Turbomachinery Solutions for GE Oil & Gas. "This latest contract marks a critically important achievement for our industrial modules Power Generation business by showcasing how advanced plug-and-play solutions are solving some of the world's most complex energy challenges in remote locations. The new work also underscores our commitment to investing in our advanced Module Construction Yard located in Avenza, Italy—the same yard where the Gorgon modules were born and built."

To support the ZADCO project, GE is expanding the Avenza yard by adding more assembly and testing capabilities. When this more than $12 million investment is completed at the end of 2014, the GE Module Construction Yard will cover 140,000 square meters—having grown by almost four times its original 40,000-sqm size in 2011. The finished yard will have enough platform foundations to assemble 10 modules at the same time, underscoring GE's commitment to providing industrial module solutions for the oil and gas industry.

HALLIBURTON

Announced its plans for a new Integrated Completion Center located in New Iberia, LA. This new facility will expand the company's resources and capabilities for deepwater completion tools while continuing to focus on service alignment, equipment maintenance, preparation and job execution for its Gulf of Mexico Area customers.

The facility, which will house more than 250 employees, will be located on 103 acres on Admiral Doyle Drive. It will include a 219,000-square-foot climate-controlled maintenance facility, a 30,000-square-foot administration building, an operations command center and several learning auditoriums for training. Halliburton is investing about $45 million in land and building costs.

The company broke ground on the facility in spring of 2013, and it is scheduled for occupancy in the fourth quarter of 2014. The company will be consolidating some of its Gulf of Mexico operations from Houma and five locations in New Iberia, Broussard and Lafayette at the new center.

"As deep water operations grow, our new completion facility will provide increased capability and focus to meet evolving market requirements," said Charles Kendrick, vice president of Halliburton's Gulf of Mexico Area. "Providing our employees with the support, facilities and tools to deliver in the market is essential to our success. Halliburton is a global leader in completion technologies, and this facility continues to reflect our commitment to advance collaboration, integration, delivery models and solution services for our clients."

Halliburton employs approximately 3,500 people who live and work in Louisiana, including about 2,800 in the Gulf of Mexico Area. The company has 42 facilities in the state.

INTERWELL AS,

Announced acquisition of additional shares in Vosstech AS. Interwell AS, where Ferd Capital is the largest shareholder, increased the ownership interest to 66.34 (previously 33.4) and the remaining shares of 33.66 are held by the founder of Vosstech AS, Mr. Stig Ove Bjorgum and his family. Vosstech is located at Voss, and will continue to be located at Voss as the center of excellence supporting research & development including sustaining engineering relative to global operational requirements. Further Vosstech will be incorporate into Interwell´s organization.

Adding Vosstech's unique technology to Interwell's toolbox further enhancing our product offering of innovative and patented technology used for applications within well barrier and well integrity for the global oil & gas industry. Vosstech and Interwell will use all synergy effects between the two companies to continue developing next generation products for completion and sub-sea market in addition for use within well intervention.

The Vosstech Plug (VT Plug) is an ISO qualified barrier plug utilizing glass disc technology. Removal of the glass disc barrier is achieved without using explosives. Instead, the glass is removed by using a unique activation mechanism.

Interwell will market, sell and operate the unique Vosstech VT Plug technology through our global footprint in Norway, Denmark, Middle East, UK, North America, and Malaysia. Other locations will be supported from one of our geo-region offices.

Interwell supplies mechanical downhole equipment for the oil & gas industry, providing packers/plugs for challenging and difficult well applications within the area of high temperatures, high pressure, and high expansion on a worldwide basis according to the highest qualification standards being ISO 14310, ISO 28781 and API 11D1.

THE PLAZA GROUP

Dunn

A leader in the international petrochemical marketing industry has named Jerry Dunn to the position of Senior Vice President. Doug Fluke, The Plaza Group Chief Operating Officer, said Dunn's experience, will contribute to the company's continuous initiative to expand. "Jerry's quality work and excellent reputation in the petrochemical industry have been instrumental in the successful growth of The Plaza Group. We feel he is the perfect addition to our senior leadership team to help us continue to build the company both domestically and internationally. Jerry has excellent experience in all aspects of customer relationship management and he will provide great contributions in his expanded role."

For the past four years, Dunn has served as the Vice President of Sales with The Plaza Group. He began his career in 1987 with Unocal Chemical. Prior to joining The Plaza Group, he served as Director of Business Development at Henkel Chemical Management and as Vice President of Sales for the phenol and acetone business with JLM Industries.

Dunn holds a Bachelor of Arts degree in Business from the University of Georgia where he graduated with honors and a Masters in Business Administration from Bowling Green State University where he attended under a Teaching Assistantship.

PULSE STRUCTURAL MONITORING

Campbell

An Acteon company, Pulse Structural Monitoring has appointed Mike Campbell as its new operations director. Based in the UK, he will lead the production, project management and offshore departments and help to manage Pulse's recent geographical expansion.

Campbell brings extensive experience to this role, having been responsible for managing manufacturing, quality, health, safety and environment and supply chain for a group of companies with operations in Europe, Asia, the U.S. and Australia. During his time with IAC Acoustics Ltd, Campbell helped the organization grow from two to nine manufacturing sites and become the world's largest noise-control company.

Richard Kluth, managing director, Pulse Structural Monitoring, said, "Mike will make a strong contribution to our continuing success. He has a wealth of experience and is an expert in lean manufacturing. His skills will help to extend and enhance the Pulse products and services offering and help us to manage our global network of offices, including the two facilities we opened in Bergen, Norway and Singapore last year."

Campbell added, "I am very excited to have joined Pulse; this is a great opportunity to join a growing company with an excellent track record. Pulse is ideally positioned to offer world class service and be the company of choice for subsea monitoring. I am looking forward to bringing some of my previous experience to the company and to help with its expansion."

SANTROL

A Fairmount Minerals company, announced today the opening of the Southton proppant terminal, its seventh in the Eagle Ford formation. This new terminal, serving the north and central parts of the south Texas shale play, reinforces Santrol's continuing strategy and leadership to enhance customers' proppant transportation efficiency with product closer to the wellhead.

"Proppant transportation logistics is an important competitive differentiator," said Tom McCoy, director of Terminal Management for Fairmount Minerals. "As hydrocarbon production in the Eagle Ford continues to increase, Santrol will identify other sites that will simplify how our customers transport proppant from the terminal to the wellhead."

Santrol's six other Eagle Ford formation terminals are located in Alice, Gardendale, Gonzales, Pleasanton, and Victoria, TX. Santrol's proppant distribution network now has more than 50 terminals throughout the US in all of the major conventional and unconventional hydrocarbon basins.

WOOD GROUP MUSTANG

Has announced John Etherington as general manager Malaysia, leading operations and strategic development in the Asia Pacific region. Kuala Lumpur is the hub of Wood Group Mustang's Malaysia operations, where Etherington will focus on an expanding presence in the offshore, onshore, chemicals, oil sands, process plants, industrial, and automation and control markets.

Etherington delivers 26 years of upstream and downstream oil and gas expertise, holding positions within engineering, project management, general management and operations. His scope of past projects include Qatar, United Arab Emirates, Iran, Saudi Arabia, India, Thailand, Indonesia, China, Australia, North Sea and Malaysia.

Etherington joins Wood Group Mustang after serving 19 years with WorleyParsons, most recently as chief operations officer for their joint venture in Kuala Lumpur, where he has resided for the past 16 years.

"John's proven track record and passion for the Asia Pacific region will allow Wood Group Mustang to build and deliver a project management and engineering capability recognized on a global scale serving our local and regional clients," shared Wood Group Mustang Executive Vice President John W. Dalton, Sr.

Wood Group Mustang's Kuala Lumpur office was established in late 2010 as the regional execution center for the upstream, automation, process plant and industrial sectors.