The Company is pleased to announce that its subsidiary, Middle East Tubular Services (Iraq) Ltd (METS) has been awarded a contract by Kuwait Energy Basra Limited (KEBL), being the operator of the Block-9 Contract Area located in the Basra Governate, Southern Iraq.

METS has been contracted to provide inspection and machine shop services on a call off basis to support KEBL’s drilling operations. The contract term is three years. KEBL acts as the operator of the Block-9 pursuant to an Exploration, Production Service Contract executed by and between Basra Oil Company, Dragon Oil (Block 9) Limited and Egyptian General Petroleum Corporation.