VELO Velosi

 

TIDMVELO 
 
RNS Number : 2905N 
Velosi Limited 
16 February 2009 
 

 
 
 
 
 
 
16 February 2009 
 
 
Velosi Limited 
 
 
Velosi announces further Extension of Contract with Petroleum Development Oman 
 
 
Velosi Limited ("Velosi" or the "Group"), the AIM listed provider of asset 
integrity and HSE services to a number of major national and multinational oil 
and gas companies, is pleased to announce that its associate company, Velosi 
Oman (50% owned by Velosi), has been reawarded a quality assurance, quality 
control and third party inspection services contract with Petroleum Development 
Oman ("PDO"). 
 
 
The new contract is worth an estimated USD30 million and commences in June 2009, 
covering a period of four years. Velosi will provide quality assurance and 
quality control services throughout Oman, and third party inspection services on 
a global basis. This represents the third extension of Velosi Oman's contract 
with PDO. The contract originally commenced in December 2003, and was due to 
expire in May 2009. 
 
 
PDO is the major oil and gas exploration and production company in Oman, 
accounting for more than 80% of the country's crude oil production and nearly 
all of its natural gas supply. PDO is owned by the Government of Oman (which has 
a 60% interest), the Shell Group (34%), Total (4%) and Partex (2%). 
 
 
Commenting on this contract Dr. Nabil Abdul Jalil, Chief Executive Officer of 
Velosi said: "We are delighted to have been reawarded this contract from 
Petroleum Development Oman for the third time. The Middle East is an important 
market, where demand for Velosi's services has been strong following the 
investment we have made in expanding our presence throughout the region." 
 
 
 - End - 
 
 
For further information, please contact: 
 
 
+------------------+--------------------+------------------------------+ 
| Velosi           | Dr Nabil Abdul     | 020 7930 0777                | 
|                  | Jalil              |                              | 
|                  | Dan Ooi            |                              | 
+------------------+--------------------+------------------------------+ 
| Strand Partners  | James Harris       | 020 7409 3494                | 
+------------------+--------------------+------------------------------+ 
| Charles Stanley  | Mark Taylor        | 020 7149 6000                | 
| Securities       | Freddy Crossley    |                              | 
+------------------+--------------------+------------------------------+ 
| Cardew Group     | Tim Robertson      | 020 7930 0777                | 
|                  | Shan Shan          |                              | 
|                  | Willenbrock        |                              | 
|                  | Catherine Maitland |                              | 
+------------------+--------------------+------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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