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IPS Signs $6 Million Contract to Provide Automation and Safety Services and Solutions to Saipem

(November 18, 2008)

LONDON -- (Marketwire) -- 11/18/08 -- Invensys Process Systems (IPS), a global technology, software and consulting firm, today announced that it has signed a $6 million contract with Saipem, a subsidiary of Italian energy company Eni and one of the largest turnkey contractors in the oil and gas industry.

Under the terms of the deal, IPS will provide and install automation and safety equipment on a floating production, storage and offloading (FPSO) structure destined for use in the Gimboa field, located approximately 85 kilometers off the coast of Angola. IPS will supply its Foxboro I/A Series® technology for distributed process control and Triconex® safety systems for emergency shutdown and fire and gas (F&G) applications, as well as fire-addressable systems and conventional and addressable fire and gas detectors. The company will also provide hardware and software engineering, project documentation, and training and site services.

"We worked very closely with Saipem to improve the quality and cost efficiency of the project," said Maurizio Visioli, Project Director, IPS. "Of particular importance was the provision of an acceleration plan and tie-back simulation for the distributed control and safety systems, which allows the factory acceptance test and the delivery of the system hardware to be carried out independently and much earlier."

The FPSO is currently being towed from the fabrication yard in Dubai to Angola, with commission and start up due to begin at the end of October. IPS initially won a lump-sum contract from Saipem in February 2007 to supply an integrated control and safety system (ICSS) for the automation of the topside and vessel process areas of the FPSO. The scope of the contract was subsequently extended to include supply of the I/A Series system for both the sub-sea control unit (SCU) and the hydraulic power unit, a move that allowed the SCU node to be fully integrated into the ICSS node via the mesh network without the need for additional equipment or interfaces and at a very competitive price.


"As a result of the acceleration plan, the cabinets were shipped to Dubai so mechanical installation work could proceed according to schedule, ensuring we would meet our milestones," said Antonio Marchionno, Gimboa FPSO Project Control System Engineer for Saipem.

The Foxboro I/A Series systems provide distributed control over the topside, vessel and SCU process areas, using FCP 270 processors and controls over 1,000 hardwired input/output points and 20,000 soft input/output points. The Triconex system performs ESD and F&G functions over 1,500 hardwired points both from and to the field, and two Triconex nodes have been installed, one for the topside and one for the vessel.

Note to editors: Press release can be downloaded from www.ballard.co.uk/ips.

About Saipem

Saipem, 43 percent owned by Eni, is organised into three business units: Offshore, Onshore and Drilling, with a strong bias towards oil and gas-related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large-scale offshore and onshore projects and technological competences such as gas monetisation and heavy oil exploitation.

About IPS (Invensys Process Systems)

Invensys Process Systems (IPS), headquartered in Plano, Texas, is a global technology, software and consulting firm leading significant change in process manufacturing, plant optimisation, business operations and enterprise performance. IPS clients are some of the world's most important industrial organisations -- companies that operate large oil refineries; plants that process chemicals, gas, LNG, power, pharmaceutical and minerals; and pulp and paper mills. IPS solutions, used at over 50,000 locations across the globe, include field devices and controls from Foxboro and Triconex, advanced applications from SimSci-Esscor, operations management from Avantis, and the world's first truly open enterprise control system, InFusion(TM).

The company's nearly 7,000 employees integrate these capabilities to create solutions that impact and increase efficiency, boost productivity, and accelerate performance. These results help industrial companies run safer, operate more efficiently, and extract useful knowledge from their operations to make faster, better decisions. To learn more about IPS, visit www.ips.invensys.com.

The Invensys Group (www.invensys.com) is headquartered in London and is listed on the London Stock Exchange (ISYS.L), with approximately 25,000 employees working in 60 countries.

Invensys, Avantis, Foxboro, SimSci-Esscor, Triconex, InFusion, I/A Series, and the IPS logo are trademarks of Invensys plc, its subsidiaries, or affiliates. All other brands and product names may be trademarks of their respective owners.

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CONTACTS

Press contact:
Stephen Ballard
Ballard Communications Management
email: Email Contact
tel: +44 (0) 1306 882288

IPS contact:
Angelika John
Invensys Process Systems EMEA
email: Email Contact
tel: +33 (0) 134 432668


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