9th Jan 2006 09:41
AMEC PLC09 January 2006 AMEC plc 9 January 2006 AMEC plc, the international project management and services company, announcesthe award, by natural gas business the BG Group plc ("BG"), of a three- yearservice contract with a further two one-year options. AMEC will provide supportto all of BG's UK Upstream assets and manage the development of the Mariabrownfield gas project in the North Sea. The initial value of the contract is approximately £90million. The scope of the contract includes engineering, procurement, construction andproject management for brownfield modifications and projects. Work will commenceimmediately to secure production from the Maria field by the first quarter of2007. Maria is a two-well subsea development tied back to BG's Armada platform.Recoverable reserves are estimated to be 35 million barrels of oil equivalent. AMEC will also execute any additional future brownfield UK upstream projectsthat BG initiates during the contract period, with each being subject toseparate and additional financial arrangements agreed at the appropriate time. Neil Bruce, AMEC Oil & Gas Managing Director, said "This contract reaffirms ourposition as a leading provider of asset support services and brownfieldmodifications - an area in which AMEC Oil & Gas has considerable expertise. Ourrelationship with BG is long standing and we are very pleased to be working onthis strategically important contract, continuing our strong track record in theexecution of modification and project work." Contacts: AMEC plc +44 (0)20 7634 0000Neil Jamieson, Director of Investor RelationsJuliet Sychrava, Director of Corporate CommunicationsCharles Reynolds, Head of Media Relations BG Group plc is a global natural gas business. Active on five continents in over20 countries, it operates four business segments - Exploration and Production,LNG, Transmission and Distribution and Power. BG Group has interests in over 20fields in the UK North Sea, is active in 88 blocks, and is operator in 44 ofthem. BG Group operates the Armada, Maria and Seymour fields in the CentralNorth Sea, the Blake and Atlantic fields in the Outer Moray Firth, and some ofthe Easington Catchment Area fields in the Southern North Sea (Neptune, Mercury,Minerva and Apollo). AMEC's Oil and Gas business, which generated sales of £1.2billion in2004, provides a broad range of services to the industry worldwide, creating,supporting and extending the production life of oil and gas assets. It offersconsultancy and design services, project management and commissioning, and assetsupport to pipelines, terminals, offshore facilities and downstream assets, suchas refineries and petrochemical plants. It operates in three key areas: globaloil and gas services, oil sands in Canada and pipelines. AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers worldwideacross the public and private sectors. AMEC employs 44,000 people in more than40 countries, generating annual revenue of approximately £5 billion. AMEC's shares are traded on the London Stock Exchange where the company islisted in the Support Services sector (LSE: AMEC.L). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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