Wison Offshore & Marine Announces Award for a second Floating LNG Regasification Unit

Shanghai, China - 12 February, 2014, - Wison Offshore & Marine announced today the award of a contract for the delivery of a barge-based floating LNG regasification unit from a 50/50 joint venture between EXMAR NV (“Exmar”) and Pacific Midstream Holding Corp, a fully owned affiliate of Pacific Rubiales Energy Corp. (“PRE”).

The regasification unit will be built at Wison Offshore & Marine’s wholly-owned and operated fabrication facility in Nantong, China, where Wison Offshore & Marine is presently in the process of fabricating the Caribbean FLNG project, also for EXMAR and PRE, which is currently on budget and on schedule for delivery. Under the agreement for the regasification unit, Wison Offshore & Marine affiliates will be responsible for the turnkey engineering, procurement, construction, installation and commissioning (EPCIC) of the project with delivery anticipated for the fourth quarter of 2015.

The agreement marks Wison Offshore & Marine’s second award this year for a barge-based floating LNG regasification facility following the previous announcement in January of an agreement with VGS for a LNG import project located offshore Andhra Pradesh, India.

“Through our work on the Caribbean FLNG unit, Wison Offshore & Marine has worked very hard to solidify our relationship with EXMAR and PRE, two of the leaders in the LNG market, and we are honored that they continue to put their trust in Wison Offshore & Marine for the delivery of these projects,” said L. Dwayne Breaux, President of Wison Offshore & Marine Ltd. “With this being our second floating regasification barge award in as many months, we hope to further solidify our place in the industry as one of the leading suppliers of LNG facilities.”