A joint venture between Transfield Services Ltd
(ASX:TSE) and WorleyParsons Ltd
(ASX:WOR) has won a $76 million contract with Shell Philippines Exploration.
The contract is for seven years and includes a three-year extension option.
The joint venture company will provide the base engineering. Procurement, construction, maintenance and shutdown services to the Malampaya facilities from January 1 2010 and will have the opportunity to access additional high value capital works during the lifetime of this contract.
Transfield Services CEO Dr Peter Goode says the Transfield Services WorleyParsons joint venture delivers integrated services to oil and gas clients globally to improve their assets reliability and productivity, and says this expertise will be essential to Shell in the Philippines, which supplies gas to meet 40% of the country’s needs.
Transfield Services says this announcement today builds on the joint venture company’s existing international services to Shell Miri in Malaysia, Shell Todd Oil Services and New Zealand Refining Company in New Zealand, Woodside and ExxonMobil in Australia, Goro Nickel in New Caledonia and RasGas in Qatar.
WorleyParsons reported net profit after tax of $390.5 million for 2009 and Transfield Services posted a $55 million loss in 2009.
