Renaissance Services SAOG subsidiary, Nico International, has won a construction/fabrication contract from FAL Energy valued at US$24.126 million at Jebel Ali Oil Storage Terminal Dubai. This is a major achievement in the business field of oil storage facility construction that the company has been focusing on in view of massive expansion around the region. The project involves the fabrication and construction of 8 storage vessels including supply of equipment, electrical/mechanical works, civil and structural works, fire protection installation, testing and the pre-commissioning of the tanks prior to hand over. FAL ENERGY COMPANY, LTD., established in 1991 in Sharjah, U.A.E. is in the business of supply of bunkers and marine lubes to many of the world’s leading ship-owners and caterers. NICO International is primarily in the business of Marine, engineering and heavy fabrication. During 2005, it acquired the industrial business from Fujairah Marine Services that has enhanced its industrial project management expertise and a track record of successfully completing similar projects. Currently the company employs more that 1200 personnel with headquarters at Dubai and operations in Fujairah, Sharjah, Salalah, Azerbaijan and Kazakhstan. NICO International was recently honored by the Seatrade Organization by winning the Ship Building and Repair Award – 2006 at the Dubai International Maritime Awards Ceremony. Renaissance Services SAOG is an Omani multi-national listed on the Muscat Securities Market. Renaissance is primarily an oil & gas services company, which owns one of the top ten offshore support vessel fleets in the world; significant oil & gas fabrication and ship repair infrastructure and assets; and major accommodation and life support facilities for oilfields. As a renowned provider of turnkey contract services, Renaissance has an exemplary record for quality and safety. The company recently reported its 2006 annual results with revenue of R.O. 142.9 million (US$ 371.2 million) for the year.