Roxar Signs Contract to Supply Wet Gas Meters To Cameron for Use by Rashpetco

Contract is due to the success of the Roxar subsea Wetgas meter in neighboring gas fields, offshore Egypt.

Stavanger, Norway, November 14th, 2006.
Roxar, a leading technology solutions provider to the upstream oil and gas industry, today announced that it has signed a contract to supply its industry leading Roxar subsea Wetgas meters to Cameron’s Subsea Systems division.

One Roxar subsea Wetgas meter will be installed per well on the Rosetta gas field, offshore Egypt. The Rosetta field is developed and operated by joint venture Rashid Petroleum Company (Rashpetco), with BG Group as one of the main partners.

The deal follows the successful late 2004 and 2005 installations of 15 Roxar subsea Wetgas meters in the neighboring Simian/Sienna and Sapphire fields, and four Roxar topside Wetgas meters in the Rosetta field.

The Roxar subsea Wetgas meter is the latest in wet gas metering technology, providing real-time, accurate measurement of hydrocarbon flow rates and water production as well as online detection of formation water breakthrough.

The meters’ ability to measure water in very small amounts is an important input parameter for controlling hydrates, corrosion and scale in a subsea production system. The meters’ formation water detection functionality – enabling the operator to initiate preventive measures to avoid loss of all production from the particular well in question – was an important factor in the selection of the Roxar subsea Wetgas meter.

A spokesperson from Rashpetco said:
“We have direct experience of the importance of the Roxar Wetgas meter from the Simian/Sienna, Sapphire and Rosetta fields, where the Roxar Wetgas meters reported formation water breakthrough on some wells earlier this year. With this information instantly available, we were able to initiate immediate steps to choke down production, thus avoiding catastrophic water break-through and loss of the wells. Because of the Roxar Wetgas meters, there were major cost savings related to such loss of wells.”

Said Roxar CEO, Sandy Esslemont:
“We are delighted to be partnering with Cameron and Rashpetco in bringing increased flow assurance and production optimization to their customers and fields.”

“Whether it be production well testing, improved reservoir management, or hydrate and corrosion prevention, the accurate measurement of wet gas flow is crucial to managing one’s fields. The fact that this deal follows the successful implementation of 15 meters in nearby fields is confirmation that the Roxar subsea Wetgas meter remains unrivalled in terms of its proven technology, functionality, sensitivity and accuracy.”

Note to Editors

About Cameron:
Cameron (NYSE: CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. Website: www.c-a-m.com. Roxar's multiphase meters and sand detectors are also being used by Cameron on the Akpo subsea project offshore Nigeria.

About Roxar
Roxar is a leading international technology solutions provider to the upstream oil and gas industry. The company creates value for its customers through innovative products and services that help achieve maximum performance from oil and gas reservoirs.

With its head offices in Stavanger, Norway, Roxar employs over 600 staff across a network of wholly owned offices in Europe, the Americas, Africa, CIS, Asia Pacific and the Middle East. Founded in May 1999, the company generated revenues of approximately US$130 million in 2005. Roxar’s International customer base includes all of the multinationals, major independents and the majority of national oil companies.

For Further Information:

Sandy Esslemont (USA)
CEO, Roxar Group
Tel: +1 713 482 6439
Email:

Gunnar Hviding, Managing Director, Roxar Flow Measurement
Tel: +47 51 81 88 75
Email:

Rune Haddeland, Vice President, Wetgas, Watercut & Oil-in-water
Tel: +47 51 81 88 26
Email:

Svenn Haugen, Group Marketing Manager
Tel: +47 51 81 88 00
Email:

Paul Fisher, Axiom Communications Management
Tel: +44 (0) 1285 713 776 / Fax: +44 (0) 1285 713 071
Email: