24th Jul 2007 10:17
AMEC PLC24 July 2007 AMEC plc24 July 2007 AMEC acquires 60% interest in Kazakh oilfield services business AMEC plc, the international project management and services company, has agreedto acquire a 60% interest in Batys Kazakhstan Kuat Service Limited ("BKKS"), aKazakh oilfield services limited liability partnership, from Kinlee S.A. for atotal cash consideration of up to £5m (US$10m), subject to meeting definedperformance targets. In 2006, BKKS generated revenues of £6m (US$12m). Based in Aksai in northwest Kazakhstan, BKKS has been active in the oilfieldasset support, operations and maintenance market since 2001. It employs over 200skilled personnel on a number of long-term service contracts in the Karachaganakgas field, one of the largest in the world. AMEC has been working in Kazakhstan since 1993 and has recently opened an officein Uralsk to provide engineering, project, procurement and constructionmanagement services to the oil and gas fields in northwest Kazakhstan. Neil Bruce, Chief Operating Officer, AMEC Natural Resources, said "As part ofour global strategy of focusing on the energy and process sectors, we plan tobecome a leader in the provision of services to Kazakhstan's growing oil and gasindustry. This agreement marks the first partnership between an independentKazakh services company and a large multi-national engineering services company.Combining AMEC's global capability with BKKS's local knowledge and resourcesshould present both companies with exciting opportunities in the region." Contacts: AMEC plc +44 (0)20 7634 0000 Analysts and InvestorsNeil Jamieson, Director of Investor Relations MediaSue Scholes, Director of CommunicationsFrank Stokes, Media Relations Notes to Editors: AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers across thepublic and private sectors. AMEC employs more than 16,000 people in its corebusinesses, working from a network of offices throughout the UK, US and Canada,as well as regional offices and projects worldwide. AMEC's shares are traded onthe London Stock Exchange where the company is listed in the Support Servicessector (LSE: AMEC.L). AMEC recently hosted a capital markets day in Calgary, Canada, at whichpresentations on its Oil and Gas Services, Oil Sands and Minerals and MetalsMining were made. These presentations, together with other information on AMEC'sNatural Resources businesses may be found at AMEC's website www.amec.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L