Two North Sea contract wins

Two North Sea contract wins

Amec Foster Wheeler announces today the award of two long-term major services contracts as part of Repsol Sinopec Resources UK's long-term transformation and long-term commitment to the North Sea. The contracts are both for an initial three-year term with up to two one year extensions.

The new contracts are for the provision of maintenance and construction labour and engineering support services, covering its offshore operated assets and the terminal at Flotta. In each category, contracts have been awarded to at least two providers to ensure best practice and to incentivise and reward performance and innovation.

The first contract is a new, simplified labour supply contract, replacing the previous maintenance services model. Amec Foster Wheeler's scope covers seven offshore assets: Arbroath; Bleo Holm; Buchan; Clyde; Claymore; Montrose; Tartan.

The second contract is for a tier 1 engineering services support, covering brownfield modifications and repair orders on a call-off basis, reflecting Repsol Sinopec's asset-based structure and allowing assets to align engineering scopes with suppliers whose core competence makes them best placed to execute them efficiently.

Alan Johnstone, Amec Foster Wheeler's Managing Director for Upstream Asset Solutions, said:

"These new operations and maintenance contracts are all about efficient delivery, offering innovative solutions, and being accountable for what we do. I am delighted that we have been chosen as part of the supply chain to support Repsol Sinopec in its continued transformation, and I look forward to seeing us deliver long-term value to them."

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Notes to editors:

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.

Employing around 40,000 people in more than 55 countries and with 2015 revenues of £5.5 billion, the company operates across the oil and gas industry - from production through to refining, processing and distribution of derivative products - and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.

Amec Foster Wheeler offers full life-cycle services to offshore and onshore oil and gas projects (conventional and unconventional, upstream, midstream and downstream) for greenfield, brownfield and asset support projects, plus leading refining technology.

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

Forward-Looking Statements

This announcement contains statements which constitute "forward-looking statements". Forward-looking statements include any statements related to the timing, results and success of contracts, and are generally identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.