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MAVERICK Technologies Announces Major Contract for Chevron Texaco Offshore Deepwater Drilling and Production Platform

COLUMBIA, Ill., November 18, 2003 — MAVERICK Technologies’ Houston office has recently been awarded a major new contract through Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME). Based upon a concurrent agreement with ChevronTexaco and citing “technical superiority and best value,” DSME has contracted MAVERICK to provide the Integrated Control System (ICS) portion of the approximately $800M ChevronTexaco Benguela-Belize-Lobito-Tomboco (BBLT) Development Project. When fully integrated and installed, this system — which includes the Process Control System, Electronic Safety System, and Fire and Gas System — will monitor, control, and ensure continuous production of oil and natural gas at this new deepwater drilling and production platform, as well as optimize its safe operation.

MAVERICK Technologies, a “Diamond Level”-approved Yokogawa System Integrator, kicked off development efforts on June 26, with shipment of the finished system planned for mid-2004. Due to its “Diamond Level” certification and extensive experience within the industrial automation field, MAVERICK Technologies is uniquely qualified to implement Yokogawa’s CS3000, as well as their ProSafe Safety Shutdown Management System for DSME.

ChevronTexaco’s BBLT project is located 50 miles offshore in more than 1,250 feet of water — in the heart of Angola’s Deepwater Block 14, one of the most productive offshore oil drilling locations of recent years.

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