AMEC Joint Venture Signs Shell Onegas Extension Worth EUR200 Million
19 Aprile 2010 - 8:50AM
Dow Jones News
AMEC PLC (AMEC.LN), an international engineering and project
management company, and its joint venture partners announced Monday
they have secured a three-year extension, worth EUR200 million per
year, for the Integrated Services Contract (ISC) for the assets
known as Shell ONEgas Southern North Sea or SNS (RDSA.LN).
MAIN FACTS:
-ONEgas is a combined business unit of Shell U.K. Exploration
& Production and the Nederlandse Aardolie Maatschappij B.V or
NAM.
-AMEC and its joint venture partners Jacobs and Stork or AJS
have secured the contract extension as a result of continued
exceptional performance and business improvement.
-AJS has been delivering the ISC since 2003 and future contract
extensions will also be based on performance.
-The work applies to all 54 Southern North Sea offshore assets
as well as the Shell Bacton plant in the U.K. and the NAM operated
Den helder gas plants in the Netherlands.
-Up to 1,000 people are employed by the joint venture across the
UKCS (United Kingdom Continental Shelf) and the Dutch sector.
-AMEC will continue to provide management, engineering,
maintenance execution, project delivery and operational support to
one of the largest and most complex asset support contracts in the
North Sea.
-Shares closed Friday at 851.50 pence.
-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411;
zechariah.hemans@dowjones.com
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