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BP AWARDS JDR CONTRACT TO SUPPLY (IWOC) UMBILICAL AND REELER SYSTEMS FOR THE NAKIKA DEVELOPMENT

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Littleport, United Kingdom – 16 March 2011 – JDR Cables Systems LTD.

JDR Cable Systems has been awarded a contract by BP Americas Inc. for the supply of an intervention workover and control (IWOC) umblical and reeler system for the ultradeep Nakika Development in the Gulf of Mexico.

The scope awarded to JDR includes a custom-engineered IWOC umbilical and reeler. JDR will manufacture the unilay umbilical using a vertical lay up machine which enables a minimal increase in diameter with increased performance. The package will be delivered in the fourth quarter of 2011.

“JDR has a long-standing relationship with BP Americas Inc. This contract marks the fifth umbilical system JDR has designed and manufactured for the Nakika Development. JDR has also been contracted to provide six IWOC umbilicals for the Thunder Horse field in the Gulf of Mexico. Two of these were delivered in 2010 with the remainder to be delivered in 2011,” states Pat Herbert, CEO JDR Cable Systems (Holdings) Ltd.

The Nakika central permanently moored floating development and production host facility services 12 development wells from six tied back fields. It is located 140 miles southeast of New Orleans in water depths ranging from 1,770 m to 2,316 m.