ALMANSOORI ACQUIRES SECOND EGYPTIAN COMPANY

Innovative oilfield services provider AlMansoori Specialized Engineering
(MSE) has strengthened its market position in Egypt with the acquisition of
leading service company Gulf Petroleum Investments in a multi-millon dollar
deal.

MSE¹s tubular inspection division has acquired all the assets and existing
contracts of Cairo-based GPI, whose core business is tubular inspection and
wireline manpower services.

The acquisition is in line with AlMansoori¹s long term commitment to
international expansion while enhancing its position in the Middle East.
Earlier this year AlMansoori heralded its first venture into the rapidly
growing Egyptian oil and gas sector with the acquisition of production
testing, drill stem testing and memory gauge equipment company Alpine Oil
Services Egypt (AOSE).

Lyle Gifford, General Manager of AlMansoori¹s Tubular Inspection Services,
said: "The acquisition of GPI is of key strategic importance in our
commitment to both geographic and business expansion.

"GPI¹s existing portfolio of work gives us an immediate start and enhances
our position in the highly significant Egyptian oil and gas market.

"Our acquisition of AOSE enabled us to establish one of our core business
streams in Egypt ­ production services. The acquisition of GPI gives us a
platform to introduce our other two core streams ­ inspection and wireline
services, giving us a full capability in Egypt. The country also provides a
solid base from which to expand into the wider North African oil and gas
market, giving us a significant advantage in the region."