Empired Limited (Empire or the Company), an Australia-listed information technology (IT) services company, disclosed Tuesday that it has secured a contract to provide Managed Services to InterOil Corporation Limited (InterOil).
The contract is for a total term of 5 years, structured as an initial 3 year period with a further two 1 year options. Transition services under the contract have commenced. As part of this Empired has established office facilities and hired resources in Singapore.
Empired estimates that the value of the contract to be $11.6 million (AUD 15 million) in revenue over the term of the contract based on a fixed monthly managed services fee plus a conservative estimated level of project work.
InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea. InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering 6,178 square miles (16,000 square kilometers). The company employs more than 2,000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Under the contract Empired will provide managed services for all of InterOil’s core IT systems including infrastructure and communications, finance and corporate systems plus exploration and production systems.
Commenting on the contract award, InterOil Chief Information Officer, Jeff Carvell said “InterOil maintains a strong focus on the Elk-Antelope LNG (liquefied natural gas) development on the back of positive appraisal results while also drilling to unlock multi-Tcfe (trillion cubic feet equivalent) outside of Elk-Antelope. It is critical that we select partners with not only the agility to grow and support our international operations but to bring a high degree of capability in technical field systems.”
“We have been through a rigorous selection process leading to contract award. Key to Empired’s success was not only their mature business focused services model but their depth of capability in technical field systems.”
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