Rutter's Unicontrol Subsidiary wins more Petrobras work

June 30, 2005

RUTTER HAS ANNOUNCED that its Brazilian subsidiary Unicontrol International Ltda. has been awarded an additional contract to perform work for Petrobras. The contract, valued at CAN$534,000, was awarded by GDK, South America, and calls for Unicontrol to design, procure, install and commission the automation and control systems upgrade for the Petrobras P-34 FPSO (Floating Production Storage and Offloading vessel), which will be redeployed for production on the Jubarte Field in the Espirito Santo Basin, offshore Brazil.

Unicontrol President, Elcio Pasqualucci notes, "To date, Unicontrol has delivered automation and control systems solutions for Petrobras' P-43 and P-48 platforms, and we continue to complete earlier announced control systems contracts on their P-51 and P-52 platforms totalling $15 million. The P-34 PSO is a pilot deployment in the Espirito Santo Basin scheduled to produce approximately 60,000 bpd and is one of three production units that Petrobras intends to deploy in this new basin development before 2010. This project is part of Brazil's aggressive drive to become self-sufficient in oil, something it could achieve before the end of 2006," Pasqualucci adds.

Commenting on this latest contract award, Donald I. Clarke, Chairman and CEO of Rutter Inc., notes, "This P-34 contract is a reflection of the trust that Petrobras and its selected contractors continue to show in our people and our engineering solutions. This is a pilot deployment related to a new area of development in the fastest growing oil region in the world. Unicontrol is the leading automation and control systems player in Brazil and we hope to build on this contract as Petrobras ramps up production in the Espirito Santo Basin."