Neil Bruce Chief Operating Officer,

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• Neil Bruce Chief Operating Officer,
• AMEC plc - Natural Resources

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Reshaping for growth
Old AMEC March 2006
Sale of SPIE Mid 2006
Energy and Process
UK Infrastructure
New AMEC
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Sale of AMEC SPIE

• AMEC and PAI partners have agreed terms for the
  sale of AMEC SPIE
• Businesses to be sold generated 2005 profit of
  49.7m revenues of 1,755m
• Equity value of sale approximately Euro 1,040
  million (707 million)
• The sale is expected to close around the middle
  of the third quarter of this year, generating an
  exceptional profit on disposal expected to be no
  less than 220 million

Subject to consultation with AMEC SPIEs
Workers councils, and conditional upon the
approval of AMEC Shareholders and the fulfilment
of certain anti-trust regulatory clearances
Profit before interest, tax and intangible
amortisation
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New AMEC - Structure

• Oil Gas
• Oil Sands
• Mining

• Industrial
• Nuclear
• Power

• Environmental consultancy services

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Agenda

• Natural Resources - a key contributor to AMEC
• Our background
• Our services
• Our markets
• Our customers and competition
• Future prospects
• QA

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Split of Natural Resources / Power and Process
Total Energy and Process profit 2005 94.3
million
Before corporate and net financing
costs Excluding AMEC SPIE and upstream
lump-sum fabrication
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AMEC - Areas of operation, Natural Resources
mining
Upstream
Midstream
Downstream
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Reshaping our services An Energy Services
Company
Consultancy, programme management grow asset
support
Fabrication / construction
Asset support, engineering services
EPC Lump sum
Balanced portfolio
Providing High Value Services to key energy
markets
A business working around our global regions
protecting our market in Europe and growing the
others
Organic expansion
UK-centric
2003
1999
2006
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AMEC Natural Resources What we do

• Our two key areas of activity are
• Asset Development
• We provide services to support the development of
  oil, gas and mining facilities
• Asset Support
• We operate, manage or provide support services
  for oil, gas and mining facilities
• These are supported by
• Specialist Services
• We provide high value technical services such as
  environmental and training - to support local
  requirements

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AMEC Natural Resources What we dont do!

• We do not operate in the following areas
• Exploration/Downhole
• Drilling
• Subsea
• Investment in OG facilities

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Asset Development Services - CAPEX

• Global experience of delivering large and complex
  projects
• Leaders in front end and project management
  services
• Centres of excellence in key locations including
  Houston, London and Calgary
• Moved away from lump-sum construction towards
  integrating the supply chain
• Revenue profile includes short-term reimbursable
  consultancy services, leading on to large
  reimbursable engineering contracts (3-5 years)

• Programme / Project Mgmt

• Front End services
• Technology

• Engineering
• Major Projects

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Asset Development Services - CAPEX
Syncrude Aurora Mine Train 1, Canada
KOC PMC, Kuwait

• The contract covers not only oil fields and
  related assets but also the infrastructure KOC
  needs to support its 5,000 staff working in the
  region
• KOC holds the fourth largest oil reserves in the
  world
• A key part of AMECs staffing policy is the
  introduction of Kuwaiti nationals into the
  company. Graduate trainees, construction
  supervisors and administration staff were
  recruited to the team

• Project management, engineering and procurement
  of 96,000 b/d Bitumen mine
• Production included 80 MW Cogeneration Facility
• Start-up one year ahead of schedule

Programme Management Contract
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Asset Support Services - OPEX

• Leading international asset support provider
• Servicing more than 200 facilities daily and
  operating from over 10 locations worldwide
• Strong position in Europe and in growth areas
  such as the Caspian and South East Asia
• Leading provider of brownfield services - aimed
  at extending the life of assets in mature regions
• Revenue profile includes long-term (3-5 year)
  contracts, typically cost reimbursable with
  performance related benefits

• Production Operations
• Operations Maintenance

• Facilities Engineering
• Brownfield Projects

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Asset Support Services - OPEX
Shell ONEgas, UK Dutch North Sea
ConocoPhillips Bayu Undan, South East Asia

• Seven year services contract
• Management of engineering, design, construction,
  operations and maintenance and support services
• First contract of its type - covering two
  geographic regions
• Performance based on Key Performance Indicators

• The successful six-week shutdown in 2005, the
  biggest in ConocoPhillips history
• Step change resourcing and competency strategy
  support from bases in Philippines (Manila), Perth
  and Darwin (Australia) and Dili (Timor-Leste)
• Delivering through innovative partnerships and
  aiding in development of an integrated regional
  supply chain

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Specialist Services
Underpinning our asset development and asset
support work, we have a suite of unique services
and tools that enables us to deliver projects
around the world, including

• Environmental
• Specialist services in geotechnical, materials,
  water resources and environmental consulting
  arenas
• Training and development
• Full service training solutions including needs
  assessment, performance-based instructional
  system design, content development and
  implementation services
• Convero
• Integrated project management system which
  provides live data allows project management to
  review project performance on-line from any
  internet location, in real time

• Project Management Systems

• Consultancy services

• Technology solutions

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Differentiated services
Our people have worked across the natural
resources industries and bring this full range of
expertise to each stage of the project
Our robust project management systems such as
Convero help us to manage world-scale projects
Our environmental capability positions us at the
start of the project cycle, and allows us to
provide support and advice throughout the project
lifecycle
Our expertise in training helps our customers
with local supply chain issues and developing a
sustainable business
Our innovative tools and techniques such as Point
Cloud, allow us to reduce time and improve
efficiency
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Oil and Gas
Oil Sands
Minerals and Metals
Natural Resources Our markets
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Oil Sands Description / AMEC Position

• Estimated reserves of 177 bn barrels of oil
  mixed with 80 sand
• second largest proven oil reserves outside the
  Middle East
• Open-pit mining techniques or in-situ extraction
  with steam
• Current output nearly 1m barrels per day (10 of
  North American production)
• AMEC has provided engineering and related
  services since the 1970s  
• Leading market position in surface mining
• AMEC has worked on every major mineable oil sands
  project since 1991

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Minerals and Metals Description / AMEC Position

• Extraction and processing of base metals (copper,
  nickel, lead, zinc), gold, diamonds, potash and
  uranium
• Harsh environments with limited infrastructure
• AMEC provides consulting, design, project
  management, asset management and environmental
  services
• Recognised leader in northern and arctic
  construction
• Experienced in overcoming challenges of remote
  locations with difficult access

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Oil and Gas Description / AMEC Position

• Upstream, midstream and downstream
• Oil and gas expected to remain the dominant
  source of global energy supply for the next 20
  years
• AMEC has provided services to the oil and gas
  industry for over 50 years
• Strong relationships with both International
  Operating Companies and National Operating
  Companies
• Growing relationship with Independents
• Leaders in Brownfield Projects

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Brownfield projects- AMECs leading track record
AIOC Chirag Water Injection
Chevron Alba
ExxonMobil Skene
BP Rhum/Bruce
BP Harding
BritSats
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Natural Resources Customers and competition
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Global regions based upon customer spend
CIS
Europe West Africa
China
Americas
Middle East North Africa
SE Asia
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AMEC Natural Resources long-term customer
relationships
BP Continuous project activity since
1970s Shell Relationship in North Sea since
early 1970s ExxonMobil Relationship with Esso
since 1960s KOC Relationship dating from
2002 Sinopec Working in China since
1930 Syncrude Work on every oil sands project
since 1991
Teck Cominco Continuous working since
1979
Imperial ( Exxon) Building on global
relationships
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Overall competitive environment
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Competitive position
Profit 2005
Natural Resources Other businesses
AMEC Energy Process
Petrofac
Wood Group

• Revenue (2005) 1.6bn
• Geographic split
• Americas 52
• Europe 32
• Rest of world 16

• Revenue (2005) 0.8bn
• Geographic split
• Americas 0
• Europe 35
• Rest of world 65

• Revenue (2005) 2bn
• Broad geographic spread

Total Energy and Process profit 2005 before
corporate and net financing costs Natural
Resources profit excludes AMEC SPIE and upstream
lump-sum fabrication
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Natural Resources Future prospects
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AMEC - Natural ResourcesRecent contract awards
Talisman Tweedsmuir Engineering, Procurement
Installation UK
BG Group Services contract UK
De Beers Canada Victor Diamond Mine Engineering,
Procurement Construction Management Canada
BP Harding Gas Project Engineering Project
Management UK
Nexen Buzzard Hook-up and Commissioning UK
Petrochina Dushanzi China
Samsung Heavy Industries Takula Gas Processing
Platform Detailed Design Angola
Shenhua Ningxia Coal Industry Group China
ExxonMobil Golden Pass Pipeline Project USA
Eurogas Amposta Gas Storage Project Spain
Woodside Engineering Services Contract Perth
Shell Malampaya 3 year extension Philippines
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• What differentiates AMEC?
• Breadth of capability in the energy and process
  industries
• Life-of-asset knowledge
• Blend of approaches i.e. North Sea and
  Gulf-of-Mexico
• Strong relationships with both major IOC and the
  NOC
• Offices in major development areas
• Market leader in brownfield developments
• Differentiated services through In-house
  specialist consultancy services
• Natural Resources A growth strategy
• Protect UKCS market share
• Grow Houston position through building on Paragon
  acquisition
• Continue organic investment in key regions
• Investing in capacity, infrastructure and
  technology