Koil Energy Solutions Inc. (KLNG)

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Wellstream Wins LOI for Phoenix FPU from Helix
Wellstream International Monday, October 09, 2006


Wellstream International has received an LOI from Energy Resource Technology GOM, Inc., a wholly-owned subsidiary of Helix Energy Solutions Group, Inc., for the direct supply of flexible risers and jumpers for the Phoenix project which is located in 670m water in the Gulf of Mexico. This project will be delivered, to an aggressive manufacturing schedule, ex-works from Wellstream's start-of-the-art facility in Newcastle on December 31, 2007.

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The scope of work includes:
- Two 1,000m 5.625-inch production risers
- One 1,000m 6-inch oil export riser
- One 1,000m x 6-inch gas export riser
- Four 30m 5.625-inch production jumpers

The Phoenix Field (formally operated by Chevron/BHP as Typhoon) will be developed using a ship shaped FPU (Floating Production Unit) which will be the first of its kind in the Gulf.

Gordon Chapman, CEO says 'This is a key milestone award as the Phoenix project is considered one of the final steps before complete FPSO solutions will be allowed to operate in the Gulf of Mexico. Flexible pipe is a major enabling technology, and Wellstream has had flexible risers operating successfully for many years in the Gulf of Mexico, which is now considered to be one of the worlds most challenging offshore operating environments