April 17 , 2003 - WellDynamics Inc has completed the installation of all six subsea SmartWell^® Completions for TotalFinaElf E&P USA and Marathon Oil Company's Gulf of Mexico deepwater projects.

TotalFinaElf E&P USA and Marathon collaborated on the field development, combining their deepwater technologies and experience with the use of WellDynamics' SmartWell completion technology.

The wells set the record for the Gulf of Mexico with Marathon's Camden Hills project being developed in 7,209ft water depth, followed by TotalFinaElf E&P USA with the Aconcagua development at a 7,096 ft water depth. Both field developments were tied-back to the Williams owned and operated processing facility 'Canyon Station' with a 55 mile umbilical. Seabed temperatures were recorded at 39 degrees F.

The implementation of WellDynamics SmartWell technology permitted TotalFinaElf E&P USA and Marathon to remotely operate their deepwater field developments from Canyon Station and control gas production profiles and water breakthrough issues, without the need for intervention by deepwater drillships or semi submersibles. All SmartWell systems deployed incorporate multiple gauge systems to permit remote data recovery of tubing and sandface temperatures and pressures.

Each of the completions comprise two-control sleeves and a gauge package with the lower sleeve shrouded to permit separation of the upper and lower pays, providing selective control of each zone. The wells are completed with stacked gravel packs and were successfully flow tested after installation.

Mike Fleming, Chief Executive of WellDynamics said: "We are delighted by the success of this project, which reflects both the dedication and team-work of the WellDynamics crews and all those involved.

"The completion operations associated with the SmartWell equipment went exceptionally well. Setting a new record for subsea development is a terrific bonus for the company and we will strive to maintain and improve upon this success."

Greg Stimatz, Deepwater Completion Engineer from Marathon Oil Company said: "This is a groundbreaking achievement and demonstrates the benefits that can be gained from first class teamwork. It is a challenging project and to produce such a result speaks volumes for the commitment of all those involved."

A second record has been set for WellDynamics with the longest ever SmartWell tieback to a host of 55 miles. Communications with the host and SmartWell completion are established through a downhole umbilical with hydraulic and electric feed to the subsea tubing hanger.

Penetrators through the hanger communicate to the Subsea Electronics Module and are passed via the subsea umbilical to Canyon Station 55 miles away. At Canyon station a computerized surface control system receives the communications from the downhole equipment and displays real-time data for reservoir and production engineers' view.

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Issued on behalf of WellDynamics by Weber Shandwick Worldwide. For further information please contact Emma Lane on +44 (0) 1224 806600 or email: emlane@webershandwick.com

Notes to Editors

WellDynamics is the world’s market leader in intelligent completion technology. Formed as a joint venture between Halliburton Energy Services and Shell Technology Ventures, WellDynamics uses advanced intelligent well technology to deliver the world’s premier solutions for surface controlled reservoir monitoring and management of complex wells.

As well as its operations in Houston and Aberdeen, WellDynamics has a manufacturing plant in Livingston Scotland, and sales teams and operations in Norway, Brazil, Italy, Dubai, Saudi Arabia, Malaysia, Brunei and Australia.

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