M-I SWACO

FOR IMMEDIATE RELEASE
3/29/2006 CONTACT: Michael P. Kearns

202-347-6900
M-I SWACO Wins 2006 Safety in Seas Award

M-I SWACO, LLC is awarded the 2006 NOIA Safety in Seas Award

Washington, DC, March 29, 2006 – M-I SWACO, LLC. was awarded the 2006 National Ocean Industries Association (NOIA) Safety in Seas Award today, recognizing their outstanding contribution to the improvement of safe operating procedures in the ocean industries.

M-I SWACO’s award-winning nomination was selected by a blue-ribbon panel of judges from the U.S. Coast Guard, the Minerals Management Service and the National Academy of Sciences’ Marine Board. The judges awarded the prestigious honor in recognition of the company’s dramatic overall improvement of the safe capture and disposal of drill cuttings through its CleanCut™ technology in its operations throughout the world.

Drill cuttings are the mixture of rock pieces and drilling fluids produced as a waste product when drilling an oil or gas well. Drill cuttings must be contained offshore and disposed of properly.

CleanCut™ contains and ships the drill cuttings to shore for proper disposal using bulk pneumatic transfer technology. The cuttings are contained in a sealed system and conveyed by compressed air to storage silos and then to supply boats for transfer. This technology eliminates the need for transfer in box-like containers via crane. As a result, CleanCut™ technology cuts the hazards to personnel from rig-to-ship hoisting and drastically reduces the possibility of the drill cuttings being spilled into the marine environment.

NOIA President Tom Fry said, “The offshore industry serves a vital role in meeting the nation’s energy needs, and continues to do so while delivering an unparalleled record of safe and environmentally-sensitive operations. We applaud the fact that the Coast Guard, the MMS and the National Academy of Sciences continue to recognize our industry’s achievement and we congratulate M-I SWACO for their valuable contribution to the enhancement of offshore safety and responsible environmental stewardship.”

About M-I SWACO, LLC: M-I SWACO is a worldwide company representing a wide array of businesses involved in drilling, reservoir drill-in and completion fluids and associated services for the petroleum industry. The company is also a world leader in solids control equipment, drilling waste management services, and separation and screening products for the petroleum, municipal and industrial markets. M-I Production Chemicals supplies customers with a wide range of performance products designed to solve chemical problems associated with the production, processing and transportation of oil and gas.

About the Safety in Seas Award: Acknowledging the significant contributions made by modern-day pioneers in their pursuit of the ocean frontier, Compass Publications, Inc., publishers of Sea Technology magazine, established the NOIA Safety in Seas Award in 1978. The award recognizes excellence among those who, by their actions, design or influence, have contributed to improving the safety of life offshore. The award, now in its 27th year, continues to serve as a testimony to the high standards associated with the rapid growth of the ocean industries.

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NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of energy resources on the nation’s outer continental shelf. The NOIA membership comprises more than 300 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance.

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The National Ocean Industries Association is the only national trade association representing all segments of the offshore energy industry with an interest in the production of energy from resources on the nation’s Outer Continental Shelf. The NOIA membership is comprised of more than 300 companies engaged in numerous business activities ranging from producing to drilling, engineering to wind power to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance.

NOIA focuses on two core issues: securing reliable access to the nation’s valuable hydrocarbon and renewable resources in order that they may be developed, produced and supplied in an environmentally responsible manner; and improving the economic climate for NOIA members to do business in the United States.