VELO Velosi

RNS Number:8482F
Velosi Limited
17 October 2007





                                                                 17 October 2007

                VELOSI SECURES NEW SUBSTANTIAL CONTRACT IN NIGERIA 



Velosi Limited ("Velosi" or the "Group"), a provider of asset integrity and HSE
services to a number of major national and multinational oil and gas companies,
is pleased to announce that it has been re-awarded a contract from Mobil
Producing Nigeria, for the next three years with an option to extend for a
further one year.


Under the new contract, which commences on 1 November 2007, upon expiration of
the existing contract, Velosi will continue to be involved predominantly with
offshore coverage of the fabrication, erection and commissioning of multiple
offshore production, drilling and living quarter platforms, as well as oversight
of the laying and installation of sub-sea pipelines off the coast of Nigeria.


In 2006, the Mobil Producing Nigeria contract, worth US$23.5 million, was the
largest contributor to Group revenues, generating 33.5% of turnover, and, along
with RasGas and Qatar petroleum, was one of the key drivers behind the increased
growth of the Group's project verification division.


Commenting on the contract, Dr. Nabil Abdul Jalil, CEO of Velosi said:

"We are delighted to have secured this contract with Mobil Producing Nigeria,
which further highlights our ability to win significant contracts from major oil
and gas companies globally. Africa is an extremely important region for the
Group's growth as companies continue to seek and exploit new oil reserves. This
contract is an excellent win and will have a significant positive impact on
Group revenues over the next three to four years."



                                    - END -


For further information

Velosi                  Dr Nabil Abdul Jalil              020 7930 0777
                        Joe Vincent
Strand Partners         James Harris                      020 7409 3494
                        Warren Pearce
Charles Stanley         Mark Taylor                       020 7149 6000
                        Freddy Crossley
Cardew Group            Tim Robertson                     020 7930 0777
                        Emma Consett



Notes to editors:


About the Velosi Group

The Velosi Group, founded in 1982, provides asset integrity and HSE services to
a number of leading national and multinational oil and gas companies, including
BP, Shell, ExxonMobil and Chevron. The Velosi Group operates globally through
four principal offices in the USA, the UK, Malaysia and the UAE and has
operational or representative offices in a further 36 countries worldwide.
Velosi joined the AIM market on 21 August 2006. For more information, visit
www.velosi.com.



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