Acquisition

AMEC acquires qedi, a market-leading oil and gas completions and commissioning services company

AMEC, the international engineering and project management company, announces today that it has acquired qedi, a market-leading project delivery company, focused on delivering specialist completion and commissioning services for major projects in the oil and gas industry. It was acquired from its owner-managers for a total cash consideration of £33 million; £29 million was paid at closing, with the balance, subject to retention, to be paid over the next two years.

Headquartered in Aberdeen, qedi employs more than 350 professionals who provide 'technical integrity' project delivery services to international oil companies (IOCs) in the UK, Gulf of Mexico, Middle East, the Caspian and Australia. Managing the technical integrity of the completion and commissioning phase is critical in ensuring any major project is delivered satisfactorily and the facility meets the operating criteria for which it was designed.

 "This acquisition strengthens AMEC's project delivery capability across our key sectors, supports the Vision 2015 strategy, and reinforces AMEC's excellent track record through commissioning into operation," said Neil Bruce, Chief Operating Officer of AMEC. "Our capability, geographic coverage and customer relationships, combined with qedi's specialist technology and expertise, provide us with the ability to deliver integrity across the whole life-cycle of a project for our customers."

Enquiries to:

AMEC plc +44 (0) 20 7539 5800

Sue Scholes, Director of Communications

Nicola-Jane Brooks, Investor Relations

Media:

Brunswick Group LLP +44 (0)20 7404 5959

Mike Harrison

Craig Breheny

AMEC plc  +44 (0) 1452 872121

Frank Stokes, Media Relations Manager

ENDS

Notes to Editors:

AMEC(LSE: AMEC) is a focused supplier of high-value consultancy, engineering and project management services to the world's natural resources, nuclear, clean energy, water and environmental sectors. With annual revenues of over £2.5 billion, AMEC designs, delivers and maintains strategic and complex assets for its customers. The company employs some 23,000 people in around 40 countries worldwide. See amec.com

qedi is a leading completions, commissioning and technology provider with more than 20 years of providing technology and expertise in completions and commissioning services to the oil and gas sector.

Their continuous improvement and investment in technology and competence has led to the development of a suite of products called Go Technology® designed to successfully manage construction, completions, pre-commissioning, commissioning, start-up and de-commissioning activities in the industry.

About completions and commissioning management (CCM)

Completions and commissioning management is a high-value and specialised project management service required to oversee the implementation and safe operations of complex facilities.

Operators and owners make significant capital investment into energy infrastructure and their return on the investment is dependent on start-up being achieved safely and on schedule. The role of CCM is to ensure that the start-up and integrity of the plant is maintained and delivered on time and on budget.

The key barrier to entry to the CCM market is to have both the skills and the tools that ensure that the vast number of tasks, processes and work-streams are all integrated and brought online with the operator's asset plan. AMEC's track record in project delivery combined with qedi's skills and tools offer a new differentiated service to this market.