Strategic Agreement Facilitates Proserv's Expansion into Malaysia

KUALA LUMPUR, Malaysia--(Business Wire)--
Proserv Far East Pte. has signed a strategic agreement with
Tanjung Offshore Services Sdn Bhd, strengthening the position of
Proserv's Abandonment and Decommissioning Strategic Business Unit
(SBU) in the highly active Malaysian oil and gas market.

Tanjung Offshore Services Sdn Bhd, a company that provides marine
vessels, customised engineered equipment, project management,
maintenance and parts and additional support services to oil and gas
markets, will be Proserv's agent in Malaysia.

Proserv will benefit from having a central Kuala Lumpur base,
helping the SBU to expand considerably in the Malaysian market. The
agreement is the latest step for Proserv to create the world's most
comprehensive abandonment and decommissioning company.

To facilitate the introduction of the SBU in this region, Proserv
has appointed Mike Urbigkit as General Manager for the Kuala Lumpur
operations. Speaking from his new base in Tanjung's headquarters, he
said:

"The partnership with Tanjung Offshore Services is strategically
important for Proserv because it's a company that's well established
in the area, and will provide us with a new network of locations. We
already have facilities in Australia and Singapore, but the base in
Kuala Lumpur will give us a better reach into the large Malaysian
market, placing us in a stronger position to serve existing clients
and follow up new leads."

Commenting on the new agreement, Omar bin Khalid, Tanjung's
Managing Director, said:

"I am extremely positive about the prospects the partnership will
bring. We have targeted a number of projects for Proserv's Abandonment
and Decommissioning SBU, and there is considerable interest in its
products and services.

"Already Proserv has secured one tender and two other projects of
interest. With an active business development team in place, I am
confident that together, a substantial hub will be established within
the next 24 months."

NOTES FOR EDITORS

Tanjung Offshore Services Sdn Bhd (TOS) is an established
integrated service provider to the oil and gas industry, offering
customised engineering equipment, project management, maintenance and
marine support services. Under licensing arrangements with Petronas,
TOS is the exclusive agent in Malaysia for several world-renowned
manufacturers that produce gas and steam turbines, compressors,
centrifugal pumps, control systems, switchgears, instrumentations and
control valves. These products are widely used both in upstream and
downstream activities.

Proserv Abandonment and Decommissioning is a strategic business
unit of the Proserv Group and is a global leader in the removal of
mature and/or damaged offshore structures and wells. Proserv provides
flexible and reactive solutions from engineering planning to project
management and downhole services.

It offers its services across three main areas of expertise:

Well abandonment and decommissioning

-- Consulting services and engineering

-- Downhole service and contracting

-- Project management

Subsea and marine technology

-- Cold cutting and coatings removal

-- Dredging systems

-- Friction stud welding

High and ultra-high pressure pump services

-- Specialised HP/UHP water jetting cleaning systems

-- Topside UHP cold cutting systems and UHP surface preparation
systems

-- Flushing units and hot water washers

In April 2006 the Proserv Group was bought by the private equity
player, Northern Industries, with support from leading Norwegian
investors. Last year the company's turnover was GBP 87.7 million (NOK
950 million), with an expanding workforce of over 560.

The PR Partnership
Ken McEwen
Tel +44(0) 1224 248007
DD +44(0) 1224 216067
ken@prpartnership.co.uk
or
Proserv
Group Marketing
Gael Threipland
Tel +44(0) 1224 280067
gael@proserv-group.com

Copyright Business Wire 2008