BP Awards Multiple Intelligent Well Contract to WellDynamics for Offshore Angola.

THE WOODLANDS, Texas -- Intelligent completion specialist WellDynamics and BP have signed a multi-well contract for the provision of SmartWell(R) downhole flow control and ancillary completion equipment to manage water injection in BP's deep water, Greater Plutonio development, in Angola, West Africa. The multiple SmartWell completion contract award follows approximately four years of detailed pre-project planning and tendering processes.

The Greater Plutonio Project in Block 18, offshore Angola, initially encompasses the development of five deep water oil fields - Plutonio, Cobalto, Galio, Cromio and Paladio - with subsea wells tied back to a single floating, production, storage and offloading (FPSO) vessel. The project will require some 40 wells with approximately equal numbers of oil production wells and water injection wells. The water injection wells will provide reservoir pressure support and sweep efficiency to ensure optimal reserve recovery. An additional three gas injection wells will be used for reservoir pressure support and to dispose of associated gas production. BP has a 50 percent interest in Block 18, and is the operator of the Greater Plutonio project.

Early in the development planning, BP identified SmartWell completions as an important enabling technology for the Greater Plutonio project to optimise reservoir waterflood management. Most of the water injection wells will be completed on at least two independent channel sands, and the WellDynamics SmartWell technology will provide the ability to monitor and control the distribution of the water volume injected amongst the multiple zones within each well bore for the life of the wells. The ability to control flow into the multi-zone injectors is critical to successful management of the Greater Plutonio reservoirs and the WellDynamics system provides an ideal solution. Other applications of the technology may include gas injection and production allocation control.

Gerry Rideout, WellDynamics Region Manager for West Africa, said, "SmartWell technology will help BP realize their objectives of maximum hydrocarbon recovery and prudent reserves management. This application of SmartWell completions in Angola represents another example of the acceptance of SmartWell technology in the West Africa region as an integral part of the field development and reservoir management process."

Notes to Editors

WellDynamics is the world's market leader in intelligent completion technology. Formed as a joint venture between Halliburton's Energy Services Group and Shell Technology Ventures, WellDynamics uses advanced intelligent well technology to deliver the world's premier solutions for surface controlled reservoir monitoring and management of complex wells.

As well as its operations in Houston and Aberdeen, WellDynamics has a manufacturing plant in Livingston Scotland, and sales teams and operations in Norway, Brazil, Italy, Dubai, Saudi Arabia, Malaysia, Brunei and Australia.

For the latest information and updates please visit our website at: http://www.welldynamics.com