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a : : Ele aa rs PETROBEL f deep 7G Belayim Petroleum Company 404 Jelly Js py 454i ieee oiaatarenieng : aa Fe) 228)1738-20621739-2062"7 22621742 \ Tlecuevritca rg al 0 bot WA rere Ton rer snags 4 f “eas Fax, No. 226007 \h . 4543 ea pyre. 4549 ~5/P ®-F ax OF AWARDING IERING FOR THE PETROLEUM AND‘ FAXNO.: 02.2744302 OCESS INDUSTRIES (ENFPN) fo. FAKMRY m10 IRMAN OF THE BOARD & CEO ‘THe PETROLEUM PROJECTS AND FAKWO.; 022748362 TECHNICAL CONSULTATIONS CO. (PETROJET) ENG. MOHAMED ABD EL HAFEZ CHAIRMAN OF THE BOARD & CEO ~ TECNOMARE FAX NO. :+390255211952 / ENG. ANDREA FORZON! CHAIRMAN OF THE BOARD & CEO — FROM : PETROBEL 3 THE TWO MANAGING DIRECTORS REF. epi23201 Pe a pate 23105201 SETH DEVELOPMENT PROJECT EPC FOR SETH OFFSHORE PRODUCTION PLATFORM WITH REFERENCE TO THE ABOVE MENTIONED SUBJECT AND OLR FAX CU/19/11/PC DATED 2604/2011, WE HEREBY AWARD THE CONSORTIUM FORMED BY THE ENGINEERING FOR PETROLEUM AND PROCESS INDUSTRIES (ENPPI), THE PETROLEUM PROJECTS & TECHNICAL CONSULTATIONS CO. (PETROJET) AND TECNOMARE, WITH ENPPI AS THE CONSORTIUM LEADER, THE EPC CONTRACT FOR SETH OFFSHORE PRODUCTION PLATFORM FOR A TOTAL ESTIMATED PRICE OF 39,700,000 EURO ACCORDING TO THE FOLLOWING MAIN TERMS AND CONDITIONS - 3)____REFERENCES: OUR INVITATION TO TENDER FAX REF 0462 DATED 41112 AND ITT PACKAGE DELIVERED TO YOU ON 4/11/2010 BASIC DESIGN ENGINEERING DOCUMENTS 84 REFERENCE ITT BASIC DESIGN ENGINEERING BATCH 02 PROVIDED TO YOU ON 22 11 10. REF PETROBEL FAX SETHMU6/ 12ND BASIC DESIGN ENGINEERING FINAL BATCH 03 PROVID PETROBEL FAK SETHIFO7/T/SE VENDOR LIST BY PETROBEL AS FOLLOWS. - AX SE THIFOS/10/ND DATED 7/11/2010 FOR EPC VENDOR LIST a aX SE TH/FO7/1D/IND DATED 9/11/2010 FOR SINGLE SOURCE VENDOK LIST FAX SE THIF/11/ND DATED 03/04/2011 FOR AMENDMENT SING °C YENDOR (IST INCLDED IN THE ABOVE TO YOU ON 15.021 ai “x e 34 32 ENPP! FAX OFFER FOR EARLY ACTIVITIES, DATED 12 12 10 PETROBEL CLARIFICATION FAX DATED. 13.12.10 (FOR EARLY ACTIVITIES) ENPP! FAX DT 191210 (REPLY TO PETROBEL FAX DATED 13 DECEMBER FOR EARLY ACTIVITIES) OUR EARLY LETTER OF COMMITMENT SETHIF MO/TS DATED 20.12 10 YOUR TECHNICAL & COMMERCIAL OFFER REV 0 DATED 29.12.10 CONTRACTUAL QUALIFICATIONS AGREED IN THE VIDEO CONFERENUE DD 22/2/2011 ENPPI FAX DATED § MARCH 2011 FOR THE REQUIRED REVISED LETTER OF COMMITMENT CONSORTIUM AND PETROBEL ASSESSMENT FOR EPC CONTRACT OF SETH OFFSHORE FIXED PLATFORM DATED DECEMBER 2010/MARCH 2011 CONSORTIUM AND PETROBEL ASSESSMENT FOR COMMERCIAL QUALIFICATIONS OF DATED JANUARY 201 /MARCH 2011 CONSORTIUM AND PETROBEL ASSESSMENT FOR TECHNICAL QUALIFICATIONS OF NATED DECEMBER 201 1/MARCH 2011 OUR AMENDMENT NO. 1 REF SETHIFOYY /1 1/GL OATED 6.3.11 TO OUR EARLY LOC. YOUR FAX COMMENT DATED 15 03.11 TO OUR AMENOMENT LOC OUR FAX REPLY DATED 17.03.11 TO YOUR COMMENT FAX ABOVE FINAL ASSESSMENT OF COMMERCIALICONTRACTUAL QUALIFICATIONS - MOM DATED 303.11 YOUR FAX DAIED. 3.411 OUR REPLY FAX SETH/FO11/11/GL DATED 04.04.11 TO YOUR FAX ABOVE FINAL BASIC DESIGN AND FEED ENDORSEMENT REPORT DATED 08.0411 APPROVED BY COMPANY CONSORTIUM PROJECT TARGET SCHEDULE REV (2) AND COMMERCIAL OFFER REV (1) DATED 10.04.2011, YOUR FAX DATED 11 41! REGARDING THE SCHEDULE PREMISES COMMERCIAL NEGOTIATION MOM DATED 13 APRIL 2011 AND MOM DATED 13 APRIL 201° ENPPI FAX DATED 18 APRIL 2011 EPC CONFIRMATION FINAL PRICE ENPP! LETTER DATED 20 APRIL 2011 EPC REVISED DETAILED COMMERCIAL OFFER, EVANT ADDENDUM SCOPE OF WORK THE DETAILED PROJECT WORK SCOPE IS SET OUT IN THE ENGINEERING DOCUMENTATION, DRAWINGS, DATA SHEETS AND PROJECT SPECIFICATIONS, TECHNICAL SPECIFICATIONS, APPLICABLE RULES AND STANDARDS, REFLECTED IN THE FOLLOWING DOCUMENTS. + THE SCOPE OF WORK OF EPC CONTRACT DOC NO. 00192700HGSC1N007 REV.4 DATED 19 APRIL 2011 ENDORSEMENT REPORT ISSUED BY THE CONSORTIUM AND APPROVED BY COMPANY ON THE 6 APRIL 2011 WORK PERIOD (COMMENCEMENT DATE AND WORK TIME FOR COMPLETION) COMMENCEMENT DATE FOR THE ACTIVITIES SHALL BE THE OATE OF OUR EARLY LETTER OF COMMITMENT SETHIF/10/TS DT. 20 12.10 THE COMPLETION DATE FOR THE ACTIVITIES SHALL BE JULY 2012 ACCORDING TO THE FO_LOWING KEY DATES. COMPANY AUTHORIZATION FOR PRE-DRILLING TEMPLATE READY FOR SAIL OUT OCTOBER 2614 (NOTE 1 TRANSPORTATION BY COMPANY ViA SUPPLY VESSEL JACKET AND PILES READY FOR LOAD OUT 15TH MARCH 2012 NOTE 2: TRANSPORTATION BY COMPANY WITH 2 CARGO BAGES) COMPANY AUTHORIZATION FOR JACKET & PILES READY FOR SAIL OUT 20™ MARCH 2012 (NOTE 3 LOAD OUT AND SFA FASTENING DURATION IS CONSIDER READY TO LOAD OU! ART 32M 5 bars FROM IV DECK MECHANICAL COMPLETION 1$7 APRIL 2012 (NOTE 4: ONSHORE P8E-COMMISSIONING COMPLETED) DECK AND FLARE READY FOR LOAS OUT AST MAY 2012 TARGET (NOT 5: ONSHORE COMMISSIONING COMPLETED). Vi COMPANY AUTHORIZATION READY FOR SAIL OUT OF DECK AND FLARE: TH MAY 2012 (NOTE 6: LOAD OUT AND SEA FASTENING DURATION IS CONSIZERED 7 DAYS FROM READY TO LOAD OU" ART 3.2 v) Vil. OFFSHORE HOOK-UP AND FINAL COMMISSIONING TO COMMENCE IN JUNE 2012 AND TO BE COMPLETED WITHIN 4 WEEKS FROM COMMENCEMENT OF THIS ACTIVITY. COMPANY TO NOTIFY THE COMMENCEMENT DATE TO THE CONSORTIUM WITH TWO. (2) WEEKS ADVANCE NOT! VI ASSISTANCE FOR START-UP (1) ONE WEEK FROM COMPANY REQUEST IN JULY 2012 1X, PIPELINE SPOOLS READY FOR LOAD OUT IN FOUR WEE

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