IPS-Trade.com Awarded Contract for IGAT 5 Project

IPS - Trade.com has been awarded a contract worth Euro 4.7 million by NIGC the National Iranian Gas Company for the supply of Seamless and Welded pipelines for the IGAT 5 project in Iran. The total project scope includes 21km pipes from ½”till 40” in qualities up to grade X65 some of them internally coated. Completion of the project is scheduled for end of 2005. This order is the second large project which IPS has received in the last month.

Schiedam, Netherlands, August 15, 2005 --(PR.com)-- Iran's largest non-associated natural gas field is South Pars, geologically an extension of Qatar's North Field. Current estimates are that South Pars contains 280 Tcf or more (some estimates go as high as 500 Tcf) of natural gas, of which a large fraction will be recoverable, and over 17 billion barrels of liquids. Development of South Pars is Iran's largest energy project, already having attracted around $15 billion in investment. Natural gas from South Pars largely is slated to be shipped north via the planned 56-inch, 300-mile, $500 million, IGAT-3 pipeline, as well as planned IGAT-4 and IGAT-5 lines. Gas also will be reinjected to boost oil output at the mature Agha Jari oil field, and possibly the Ahwaz and Mansouri fields. Besides condensate production and reinjection/enhanced oil recovery, South Pars natural gas also is intended for export, by pipeline and also possibly by liquefied natural gas (LNG) tanker. Sales from South Pars could earn Iran as much as $11 billion per year over 30 years, according to Iran's Oil Ministry.

The IPS company is growing rapidly around the globe with offices in The Netherlands, Belgium, United Kingdom, Egypt, United Arab Emirates and Iran a new brand in Bahrain is expected to open latest by end of September 2005 while an office in Sao Paolo Brazil is set to open early 2006.

IPS-TRADE.COM is a privately owned procurement and trading organisation with specific knowledge of MRO materials, providing worldwide procurement and logistic services to Petrochemical Industries and Engineering companies on all continents.

Throughout the years acting as a procurement office and trading house for many overseas companies, IPS has become an important purchasing partner, handling an increasing procurement volume each year. We are well know in all market segments and approved by most major oil companies around the world.

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3115 JG - Schiedam
The Netherlands
Tel + 31 10 4621722
Fax + 31 10 2620168

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