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BP Vietnam Awards PTSC/Canyon Two-Year Vessel / ROV Contract

Maritime Activity Reports, Inc.

July 22, 2003

PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25, a work class Remotely Operated Vehicle and a DP2 vessel (supplied by PTSC), primarily to carry out Inspection, Repair and Maintenance (IRM) on the 400-kilometer Nam Con Son pipeline and the Lan Tay Jacket. The Lan Tay Field is located in approximately 127 meters of water, 400 km offshore Vung Tau province in southern Vietnam. PTSC/Canyon will make the vessel, ROV and support personnel available on a call-out basis to carry out planned and emergency well head intervention tasks. A planned intervention has already taken place in June for which as part of the additional engineering services PTSC/Canyon provide, PTSC/Canyon designed and managed the build of a purpose built ‘A’ Frame to deploy BP’s intervention running tool and in conjunction with ROV intervention, recover a well head control pod.

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