14 May, 2008

Seastream announces the completion of its project for Devon Energy on its Polvo development, offshore Brazil. This project, executed under a tight schedule, was awarded in October 2007 and completed in mid-February 2008 and involved the mobilization of an installation vessel from Aberdeen, UK. The project was supported by Wellstream’s logistics base in Niteroi Brazil located adjacent to its flexible pipe manufacturing facility.

The work consisted of the retrieval and relay of 12-inch flexible riser and power cable and the deployment of a 10-inch water injection flowline and riser critical to the production of the field. The on schedule installation campaign enabled Devon Energy to undertake the project during a planned shut-down and re-start production within 15 days.

Steve Pywell, Seastream executive noted “The successful completion of the Polvo project in a professional and safe manner illustrates the flexibility of the organization to take on challenging projects around the globe. Completing this important project for Devon is critical to gaining customer confidence for our SURF installation solutions.”

For further information contact:

Wellstream International:
Jason Nunn +44 (0)191 295 9000

Tulchan Communications:
Peter Hewer/Dominic Fry +44 (0)207 353 4200

Notes to Editors

Seastream – SURF Solutions is a non-incorporated joint venture between the marine services provider Sea Trucks Group and flexible pipe manufacturer Wellstream International Limited. Seastream provides global flexible pipe based SURF installation solutions. The Joint Venture is currently working on an installation contract for the BHP Billiton Pyrenees project, offshore Western Australia, awarded in 2007 which covers the installation, and pre-commissioning of the entire subsea system including the FPSO turret and mooring system, subsea manifolds, mid-water arches, the flowlines and risers, umbilicals with associated flying leads, and the tie-ins to the pre-installed tree flow bases.

Wellstream International Limited is a wholly owned subsidiary of Wellstream Holdings PLC (FTSE:WSM). Founded in 1983, the company is a leading independent designer and manufacturer of high quality bespoke flexible pipeline products, systems and solutions for fluid transportation. Its pipeline portfolio includes established product lines such as dynamic flexible risers and static flowlines, for deep and ultra-deepwater environments, in addition to newer products designed for onshore (FlexSteelTM) and high temperature/high pressure products for drilling and service applications. With over 900 employees internationally, Wellstream has offices/facilities in UK, USA, Brazil and Australia. Further information regarding Wellstream, its products and services can be accessed at www.wellstream.com.

The Sea Trucks Group is an international group of companies offering marine services to the Oil & Gas industry worldwide. The Group has been providing marine services to the major oil and construction companies in West Africa since the late 1970’s and is now offering clients around the globe a varied package of offshore installation services. The Sea Trucks Group has offices in Nigeria, Angola, the Netherlands, United Arab Emirates, and China and owns and operates a large and versatile fleet of vessels and barges, as well as supply base and fabrication facilities in West Africa and the United Arab Emirates. Presently the Group is building four DP3 offshore deepwater construction vessels, the first of which will be delivered in August 2008. The subsequent three vessels will be delivered in 2009 and 2010. Further information can be obtained at www.seatrucksgroup.com.

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