ShawCor Announces Contract To Provide Pipe Coating Services For Deep Panuke Project



    (TSX: SCL.A, SCL.B)

    TORONTO, Jan. 4 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced
its subsidiary, Shaw Pipe Protection Ltd., has received a contract in excess
of $40 million to provide negative buoyancy coating for EnCana Corporation's
Deep Panuke offshore project in Nova Scotia. The award was made to Shaw & Shaw
Limited, a Nova Scotia registered company, owned by Shaw Pipe Protection Ltd.
of Calgary and The Shaw Group Limited of Halifax. Shaw & Shaw successfully
provided coatings for the Sable Offshore Energy Tier 1 and 2 Projects in 1998
and 2002 respectively. The success of Shaw & Shaw in Atlantic Canada has been
the result of combining Shaw Pipe Protection's global pipecoating expertise
along with resources provided by the Shaw Group in Nova Scotia.
    Working for EnCana, Shaw & Shaw will provide Concrete Weight Coating,
Sacrificial Anode Installation and associated logistics for this 175km, 22"
diameter pipeline. The pipeline will be installed in the waters off Nova
Scotia and will transport gas from the production platform to Goldboro, Nova
Scotia, where it will enter the Maritimes & Northeast Pipeline system.
    Shaw Pipe Protection Ltd. is pleased to be re-mobilizing one of its
Compression Coat Concrete Weight Coating plants to the previously utilized
coating yard in Sheet Harbour, Nova Scotia. Shaw Pipe Protection's Compression
Coat technology is the industry's leading concrete coating system for projects
requiring rapid mobilization or coating near the pipeline right-of-way.
Compression Coat uses a side-wrap application process making it ideal for both
large and small diameter pipelines.

    ShawCor Ltd. is an energy services company specializing in products and
services for the pipeline and pipe services and the petrochemical and
industrial segments of the oil and gas industry. The company operates through
six divisions with over sixty manufacturing and service facilities located
around the world. Shaw Pipe Protection Ltd. is a wholly owned unit of Bredero
Shaw, ShawCor's largest division. Bredero Shaw is the global leader in pipe
coating solutions and employs approximately 4,000 permanent and contract
personnel located at offices and facilities in fifteen countries. The division
provides specialized coating systems and related services for corrosion
protection, insulation and weight coating applications on land and marine
pipelines including highly engineered corrosion and insulation systems for
deepwater applications.

    This news release contains forward-looking information within the meaning
of applicable securities laws. Words such as "may", "will", "should",
"anticipate", "plan", "expect", "believe", "predict", "estimate", and similar
terminology are used to identify forward-looking information. This forward
looking information is based on assumptions, estimates and analysis made in
light of the company's experience and its perception of trends, current
conditions and expected developments, as well as other factors that are
believed by the company to be reasonable and relevant in the circumstances.
Forward-looking information involves known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements
to be materially different from those predicted, expressed or implied by the
forward-looking information. The risks and uncertainties include, among other
things, changes in global economic activity and changes in energy supply and
demand which impact on the level of drilling activity and pipeline
construction; political, economic and other risks arising from international
operations; compliance with environmental, trade and other laws; liability
claims; fluctuations in foreign exchange rates and fluctuations in raw
material prices, as well as other risks and uncertainties that are more fully
described in the company's Annual Information Form, annual and quarterly
reports and in other reports and filings made with securities regulatory
authorities and available at www.sedar.com.




For further information:

For further information: ShawCor Ltd., Gary Love, Vice President,
Finance and CFO, Tel: (416) 744-5818, E-mail: glove@shawcor.com, Website:
www.shawcor.com

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ShawCor Ltd.

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