29th Apr 2008 07:00
AMEC PLC29 April 2008 29 April 2008 AMEC secures $500 million five-year contract in Azerbaijan AMEC plc, the international engineering and project management company, has beenawarded a five-year Engineering Modification Services (EMS) contract for BP inAzerbaijan. The value of the new contract is estimated to be approximately US$500 million(£250 million) over the five years. Under the contract, which is an extension of an existing eight-year contract,AMEC will provide engineering and construction management services to enhanceand extend the life of all of BP's offshore installations in the Azeri sector ofthe Caspian Sea, which represents around 20 per cent of BP's global production.The facilities include the Chirag, Central Azeri, West Azeri, East Azeri andShah Deniz and the soon-to-be-developed Deep Water Guneshli assets, which are ofstrategic importance to Azerbaijan. Together, they currently produce over 1million barrels of oil and 700 million standard cubic feet of gas per day. AMEC's expertise in asset support and brownfield projects, excellent safetyperformance and a major presence in Baku, where it has developed a sustainableregional business, were important factors in AMEC winning the contract renewal. "This is an important long-term asset support contract that reinforces ourinternational growth strategy and our relationship with BP," said Neil Bruce,Chief Operating Officer, AMEC's Natural Resources business. "We have developedand continue to develop a strong position in the Caspian and surrounding region,where we have strong business relationships and a good understanding of localissues." Richard Rippon-Swaine, Azerbaijan Country Manager, AMEC's Natural Resourcesbusiness added: "This latest contract underlines our excellent position inAzerbaijan. Since setting up in Baku 10 years ago, we have built a business thatemploys local people and delivered several successful major projects that havehelped Azerbaijan's national oil industry to grow." Enquiries to: AMEC plc: +44 (0)20 7539 5800 Sue Scholes, Director of CommunicationsNeil Jamieson, Director of Investor Relations Media: Frank Stokes, +44(0)1452 872121, [email protected] Notes to Editors: AMEC plc is a focused supplier of high-value consultancy, engineering andproject management services to the world's energy, power and process industries.With annual revenues of over £2.3 billion, AMEC designs, delivers and maintainsstrategic and complex assets for its customers. AMEC's Natural Resources, Powerand Process and Earth and Environmental businesses employ approximately 20,000people in more than 30 countries globally. AMEC shares are traded on the LondonStock Exchange where the company is listed in the Oil Equipment and Servicessector (LSE: AMEC.L). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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