AMEC Secures $500 Million Five-Year Contract in Azerbaijan
AMEC plc, the international engineering and project management company, has been awarded a five-year Engineering Modification Services (EMS) contract for BP in Azerbaijan.
The value of the new contract is estimated to be approximately US$500 million (UK250 million) over the five years.
Under the contract, which is an extension of an existing eight-year contract, AMEC will provide engineering and construction management services to enhance and extend the life of all of BP's offshore installations in the Azeri sector of the Caspian Sea, which represents around 20 per cent of BP's global production. The facilities include the Chirag, Central Azeri, West Azeri, East Azeri and Shah Deniz and the soon-to-be-developed Deep Water Guneshli assets, which are of strategic importance to Azerbaijan. Together, they currently produce over 1 million barrels of oil and 700 million standard cubic feet of gas per day.
AMEC's expertise in asset support and brownfield projects, excellent safety performance and a major presence in Baku, where it has developed a sustainable regional business, were important factors in AMEC winning the contract renewal.
"This is an important long-term asset support contract that reinforces our international growth strategy and our relationship with BP," said Neil Bruce, Chief Operating Officer, AMEC's Natural Resources business. "We have developed and continue to develop a strong position in the Caspian and surrounding region, where we have strong business relationships and a good understanding of local issues."
Richard Rippon-Swaine, Azerbaijan Country Manager, AMEC's Natural Resources business added: "This latest contract underlines our excellent position in Azerbaijan. Since setting up in Baku 10 years ago, we have built a business that employs local people and delivered several successful major projects that have helped Azerbaijan's national oil industry to grow."
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