Kakivik receives global supplier recognition award from conocophillips

Award honors Kakivik’s innovative approach to preventative maintenance

Anchorage, May 7, 2015 – Kakivik Asset Management, LLC (“Kakivik”), a wholly owned subsidiary of Bristol Bay Native Corporation, is being recognized by ConocoPhillips as part of its Supplier Recognition Award program. The award honors companies that exhibit exceptional leadership that supports the long-term health of the company, the environment and the communities where ConocoPhillips operates.

Kakivik is receiving the “Innovation” award for providing rapid inspection of insulated piping and vessels to ensure asset integrity at Darwin LNG and Bayu Undan, and adapting specific radioscopy and thermography tools used in Alaska for use in the higher heat and humidity found in Australia. This innovative approach to preventative maintenance allowed ConocoPhillips to quantify the risk of corrosion under insulation without insulation removal and reinstallation. The time saved by the rapid screening capability ultimately translated to sizeable cost savings during execution, in addition to risk-weighted loss of containment cost. The technology contributed to ConocoPhillips winning the national safety award in Australia for process safety.

Recipient companies were nominated by ConocoPhillips’ global business unit leadership, with winners chosen by a global cross-functional committee, including senior management. Kakivik was nominated by the Australia West business unit.

Ben Schoffmann, President and CEO of Kakivik commented, “We enjoy a long and successful working relationship with ConocoPhillips, in Alaska and Australia. Their concern for safetyboth personal and processis evident and fits perfectly with Kakivik’s core values of Safety, Integrity and Trust. Our collaborative efforts with ConocoPhillips in Australia helped us quickly and effectively adapt our Alaska-developed corrosion under insulation inspection techniques and bring them to a tropical environment where there are similar concerns and risks. This was truly a team effort.”

ConocoPhillips will present Kakivik with the award on Monday, May 11, 2015, at 11:30 a.m. at Kakiviks office located at 5015 Business Park Blvd., Suite 4000, Anchorage, AK 99503.

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Kakivik Asset Management, LLC, a wholly owned subsidiary of Bristol Bay Native Corporation, is a full service asset integrity management company specializing in nondestructive testing, external and internal corrosion investigations and quality program management. These services are provided for the construction, operation and maintenance of pipelines, storage tanks, pressure vessels, process systems and structural members. Kakivik is the largest Alaska-owned, Alaska-based nondestructive testing and inspection company in the State, and fields one of the most complete suites of digital radiography products in the world.