Press Release

Madrid, 17/09/2008

MEDGAZ announces that, according to information received so far, this morning, an incident occurred in international waters caused by a mechanical failure that took place on one of the cranes of the SAIPEM 7000 platform, contracted by the MEDGAZ consortium for the construction of the deepwater gas pipeline between Algeria and Spain.

No explosions were reported.

As a result of this accident, three people were killed, four others injured and one person is missing.

All of the workers, except for one of the injured, were employed by the Italian oil services group SAIPEM S.p.A, which owns and operates the pipe-lay barge.

As soon as MEDGAZ was informed of the incident, the company immediately notified the Algerian and Spanish authorities and offered them, and SAIPEM, its full cooperation and assistance in any matters or circumstances in connection with this occurrence.

MEDGAZ deeply regrets this incident and would like to express its sympathies and support to the families of the victims and to the employees of SAIPEM.


External Relations

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