COSCO Signs Major Contract for ESP Products

24.02.2006

Mr. Andrew Male, Vice President & Director of COSCO ESP Inc., is pleased to announce that they has been awarded a contract to provide another new customer with a series of parts and components for Electric Submersible Pump- (ESP) related equipment. This contract is valued in excess of $265,000.

COSCO Signs Major Contract for ESP Products

COSCO offers a wide range of submersible pumps to fit most production applications. Pumps are available in production ranges between 100 and 10,000 barrels per day with new sizes regularly added to the product line (photo: Cosco).

The customer, Mass Energy Ltd., based in Calgary is a key component supplier and contractor to established ESP users and oilfield managers, will send the majority of this order oilfield installations to Libya. COSCO is pleased to be a qualified bidder for this client and, as such, will be providing substantially more equipment in future.

COSCO President, Mark Dorin said, “We are pleased with the fact that we were able to sell our products to a Canadian company based in Calgary, Canada. The ESP products provided under this contract are varied and are comprised of some 60 plus separate components from our extensive product line. Mass will be installing this equipment and its components in a number of facilities throughout Libya. We are looking forward to a continuing relationship with Mass Energy and in turn a strong business relationship.”

COSCO ESP Inc. is publicly traded on Pink Sheets under the symbol “CCPI”, and is an established manufacturer and service provider of down-hole Electric Submersible Pump related equipment in the oil and gas industry. The Company’s advanced technology oilfield pumping and monitoring equipment allows for more efficient extraction of oil from new and existing underground oil reservoirs. COSCO is active in several countries in the Middle East as well as Africa, Russia, China and Southeast Asia.

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