19th Sep 2007 17:27
AMEC, the international project management and services company,today announced that Houston-based subsidiary AMEC Paragon wasselected by the Turkish national oil company, Turkiye Petrolleri A.O.(TPAO), to provide front-end engineering design (FEED) for a naturalgas drilling and wellhead platform in the Western Black Sea nearAkcakoca, Turkey. £ As operator for the Akcakoca Gas Field Development Project, TPAOholds a 51 percent share in the development. Toreador Resources (USA)and Stratic Energy (Canada) are joint venture partners. £ Prompted by Turkey's rapidly growing demand for natural gasresources, the project represents a significant milestone for thecountry as the Turkish Black Sea's first major gas developmentproject. Financial details of the award are undisclosed. £ Recent exploratory discoveries in the Black Sea evidence majorreserves in the region, which TPAO plans to develop to reduce Turkey'sdependence on imported hydrocarbons and gain a foothold as asignificant player in Middle East and African oil and gas production. £ "We are honored to assist TPAO in its efforts to increase Turkey'sproduction by exploiting the much-needed energy resources from theBlack Sea," said Terrance Ivers, AMEC Paragon's president. "We arebringing our worldwide project execution expertise to the Akcakocaproject to help TPAO maximize efficiency by optimizing offshoreinfrastructure." £ AMEC Paragon's work aims to expand gas production capacity,currently achieved via three minimal tripods, by 35% to 75 millionstandard cubic feet per day (MMscfd). A new four-legged platform in312 feet of water will be installed over two existing exploratorywells. TPAO plans to drill three or four additional production wellsfrom the same platform. Additional exploratory wells are planned for2008. £ After FEED, AMEC Paragon expects to provide detailed engineeringand construction management for the platform facilities, pipeline anddrilling rig. £ Mehmet Kul, Deputy Director of TPAO's Production Division, said,"We value AMEC Paragon's design and project management experience andwill look to them to help devise the offshore infrastructure to allowus efficient access to the significant Black Sea reserves." £ AMEC Paragon performed a concept identification and ranking studyfor TPAO in early 2006 to determine the type of platform andfacilities most suitable for the site. £ AMEC plc is a focused supplier of high-value consultancy,engineering, and project management services to the world's energy,power and process industries. With annual revenues of over GBP 2.2billion, AMEC designs, delivers and maintains strategic and complexassets for its customers. AMEC's Natural Resources, Power and Processand Earth and Environmental businesses employ approximately 18,000people in more than 25 countries globally. AMEC shares are traded onthe London Stock Exchange where the company is listed in the SupportServices Sector (LSE:AMEC). www.amec.com £ AMEC's Natural Resources business is a leading provider of totallife-of-asset services to customers in the upstream and downstream oiland gas sectors, petrochemicals, pipelines and mining industries, witha strong reputation for balancing global excellence with localdelivery. £ AMEC Paragon is AMEC's hub for oil and gas operations based inHouston, Texas, providing engineering, materials management, andconstruction management services to the oil and gas, pipeline, andmidstream industries. Specialties include onshore and offshoreproduction facilities, offshore platforms, onshore and offshorepipelines, floating production systems, and subsea systems. AMECParagon has completed more than 4,000 projects in 30 countries forover 260 clients. www.amecparagon.com. Copyright Business Wire 2007Related Shares:
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