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SapuraCrest Petroleum Berhad ("Company") is pleased to announce that Sarku Engineering Services Sdn Bhd ("Sarku"), its wholly owned subsidiary, had, on 19 August 2005 received a Notice of Award from ExxonMobil Exploration and Production Malaysia Inc. ("EMEPMI") awarding to Sarku, the Provision of Underwater Inspection and Maintenance Services for EMEPMI ("Contract").

The Contract requires the performance of underwater inspection and maintenance work for EMEPMI platforms, pipelines and other subsea structures which work encompasses the provision of marine spread, the procurement of consumables and materials, inspection and maintenance of subsea structures and piping as well as project management and logistics.

The duration of the Contract is for a period of 3 and a half years and is expected to commence between September and October 2005.

The value of the Contract, which is on a call out rate basis, is premised on a schedule of compensation which schedule sets out daily rates for vessels, equipment and manpower and unit rates for consumables and materials.

The award of the Contract will have no effect on the issued and paid-up capital of the Company and is expected to contribute positively to the Group's earnings and net tangible assets for the current financial year and the financial periods thereafter in the duration of the Contract.

None of the Directors nor Substantial Shareholders of the Company nor persons connected with them have any direct or indirect interest in the award of the Contract.

This announcement is dated 22 August 2005

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