Transfield, Worley JV secures $700m contract
Transfield Services Limited (TSE) and oilfield engineering firm WorleyParsons Limited (WOR) said their 50/50 joint venture Transfield Worley Services had secured a $700 million contract to supply brownfield project and maintenance services to Woodside Petroleum Limited’s (WPL) onshore LNG facilities in Western Australia.
The joint venture said the contract would be made up of two components. Firstly a four-year deal, worth $600 million, to deliver brownfield project services to Woodside’s offshore and onshore facilities, including King Bay Supply Base and the Angel platform.
The second component would be worth around $100 million over two years, is for maintenance and shutdown services to Woodside’s onshore Karratha gas plant and offshore facilities.
The two components have four and two year options to extend respectively.
The joint venture also affirmed its work on LNG projects in Qatar and the Philippines.
At the close of business Thursday, WorleyParsons shares were $23.49 and Transfield Services shares were $3.68.
Leave a Reply