Wison’s FLNG Project Entitled “National Key New Product”

(Shanghai China, February 4, 2015) Wison Offshore & Marine Limited (Wison Offshore & Marine) announced that Caribbean FLNG, the floating LNG production and storage project completed by Wison under an EPCIC (Engineering, Procurement, Construction, Installation, Commissioning) contract was entitled “National Key New Product” by Ministry of Science and Technology. The project is the world’s first Floating LNG liquefaction and storage (FLNG) facility engineered and constructed by China, marking a milestone for the leapfrog development of Chinese manufacturing.

Wison Offshore & Marine obtained the EPCIC contract in April 2012. Currently, the project has been mechanically completed and commenced commissioning It’s expected to sail away and be delivered to Columbia for offshore installation at the end of Q2 of 2015. This FLNG is a non--propelled floating LNG facility which could convert 72 million scf/d of natural gas into LNG (+/- 500,000 tons of LNG per annum) for temporary storage and export. It is a high-tech and high value-added offshore and marine facility that combines preliminary production, liquefaction and storage of natural gas.

The project has achieved many innovations and breakthroughs, with a high technological level in the world. It installs an LNG liquefaction and processing facility on a floating body for the first time, achieving the commercialization of LNG facility at shallow sea. Adopting floating structure and self-developed leg mooring, the facility can keep horizontally steady with the up-and-down tide. The fiber grating sensing technology monitors the pressure change o of key components and production environment. The distributed optical fiber passive sensor is used to monitor hazardous gas in production area, featuring strong wave resistance and high security.

Wison Offshore & Marine has always been focusing on technical innovations. Up to now, the company has applied for 90 patents, 15 of them occurred in 2014. Six products were recognized as high-tech products in Jiangsu Province. The FLNG facility also won the Silver Award of Invention and Entrepreneurship • Project at the 8^th International Exhibition of Inventions.

The National New Products Program is an important part of technology industrialization environment construction of the national science and technology system. Through policy guidance, it supports the development and production of new products with proprietary intellectual property rights that feature strong innovation and high technology. It aims to improve companies’ technology innovation and increase competitiveness of Chinese products