Bayou and Wasco Announce Restart of Bayou-Wasco Insulation Facility

HOUSTON,July 18,2022 -- The Bayou Companies,LLC ("Bayou") and Wasco Energy ("Wasco") today announced the restart of the Bayou-Wasco Insulation("BWI") facility effective immediately. BWI will continue to operate from New Iberia,Louisiana,and provide customers with both Glass Syntactic Polyurethane ("GSPU") and Glass Syntactic Polypropylene ("GSPP" or 5LPP) insulation services. In addition to providing more choices for Gulf of Mexico customers,BWI will also serve in partnership with other Wasco locations to provide added support,capacity,and plant redundancy,further reducing execution risk on major subsea projects.

"The landscape and demand for subsea flow assurance have changed dramatically,and we are excited about moving forward and working with Wasco to go to market in a coordinated fashion to support customers across geographies," said Tanmay Desai,CEO of Bayou. "We also look forward to working with Wasco's worldwide footprint to accelerate the growth of our ODYSEA division and the global deployment of Goldilocks ("GDLX™") technology to supplement polyurethane and polypropylene-based coatings,giving customers greater options."

"Over the last few years,the market for flow assurance systems has shifted significantly with new geographies providing significant growth opportunities for BWI products and services," said Giancarlo Maccagno,Group CEO of Wasco Energy. "Wasco is excited by the opportunity to restart the BWI facility with Bayou and the prospect of providing our customers with a suite of competitive products and services."

About The Bayou Companies

With 80 years of exceptional service,Bayou is widely recognized as a market leader in both onshore and offshore pipe coatings and highly specialized insulation solutions for the energy industry. Through its division ODYSEA,The Bayou Companies continues to focus on advancing thermal insulation and flow assurance solutions for subsea infrastructure for their deepwater clients. Throughout its long history,Bayou has been a reliable partner for its customers across its mission-critical suite of services and has continued to invest in capabilities that equal the increasingly complex demands of the pipeline community. Bayou has invested significantly in building out world-class facilities in its strategically located New Iberia,Louisiana campus including an expansive manufacturing and storage footprint that provides efficient logistics and seamless operations for its customers.

About Wasco Energy

Wasco Energy is a leading integrated energy group that operates in the global market. It provides reliable and competitive products,services and solutions to oil,gas and energy players worldwide. Wasco Energy has built an enviable track-record of delivering major projects across key markets and continues to extend its footprint via distinct product and service offerings in the areas of Pipeline Services,Engineering Services and Field Services.

Media inquiries please contact:

For The Bayou Companies:

Amber Murphy

amurphy@bayoucompanies.com

For Wasco Energy:

Amanda Chong

amanda.chong@wascoenergy.com

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