Posts Tagged ‘WOR’

  • ASX Company News: Worley Parsons Secures Saudi Arabian Engineering Contract

    Monday, March 21st, 2011

    Khafji Joint Operations (KJO) has awarded WorleyParsons’ (WOR) offices in London a contract to provide general engineering services in support of the exploration and production of the hydrocarbon reserves in the offshore divided zone in the border area between the Kingdom of Saudi Arabia and Kuwait. KJO is an operating agreement between Aramco Gulf Operations Company (AGOC) and Kuwait Gulf Oil Company (KGOC) with headquarters and main onshore facilities located in Khafji, just south of the Saudi-Kuwaiti border.

    The general engineering services contract is to run for five years with an option for an additional 12 months and will constitute a number of ongoing service orders.   The first service order will be for the front end engineering design of the greenfield development of a new gas/condensate field with an oil rim offshore from Khafji. The gas and oil wells will produce through dry well trees with chokes located on gas and oil wellhead platforms located throughout the field. The flowlines from the wells will be collected in a manifold and then piped via 14″ infield pipelines to a central gathering platform where the fluids will be processed by separating into gas and liquid, divided, metered and then comingled before entering two separate pipelines for export to Khafji for AGOC and Al-Zour for KGOC respectively.

    John Grill, WorleyParsons’ Chief Executive Officer said: “We are delighted to receive this general engineering services contract from KJO as this further cements  our existing robust relationships with  AGCO and KGOC. It follows a similar  general engineering services contract  that  our  Perth office has held for five years and demonstrates our commitment to our customers from the Middle East to ensure that we support them in their endeavours from wherever they choose to execute their projects.”

    www.worleyparsons.com

    http://www.traderdealer.com.au/Fundamentals/wor

    Post to Twitter

    ASX Company News: Worley Parsons Secures BP Contract In Iraq

    Saturday, February 19th, 2011

    WorleyParsons (WOR) has been awarded a contract by BP Iraq NV and its partners PetroChina and the State Oil Marketing Organisation (SOMO) of the Republic of Iraq, to provide conceptual design, front end engineering design, minimum work obligations and integrated project management team services to boost production from the super-giant Rumaila Oil Field in Southern Iraq.

    In November 2009, BP and its partners entered into a 20 year technical service contract with the South Oil Company of Iraq under which the BP led consortium is required to nearly triple output from the field to 2.85 million barrels of oil per day over the next six years. On completion of this work, Rumaila will become the world’s second largest producing oil field, contributing approximately 10% of Middle East production, 7% of OPEC production and 3% of global production. The contract will be executed from WorleyParsons’ offices in London, UAE and Iraq, with an initial revenue in excess of USD100m.

    Commenting, WorleyParsons’ CEO John Grill stated “We are pleased to be able to continue our involvement in the reconstruction and development of Iraq’s oil and gas infrastructure. We understand the significance of the Rumaila development to the regeneration of the Iraqi economy, and we will work closely with the partners in the Rumaila development, BP, PetroChina and SOMO to help create the maximum value over the life of the field”.

    www.worleyparsons.com

    http://www.traderdealer.com.au/Fundamentals/wor

    Post to Twitter

    ASX Company News: Worley Parsons Secures CAD$20 million Mining Contract

    Monday, January 10th, 2011

    WorleyParsons (WOR) is pleased to announce that it has signed a Master Service Agreement with MEG Energy Corp. supporting the MEG Energy Christina Lake SAGD Facility. WorleyParsons’ scope of work will include engineering and procurement services for commercial in-situ bitumen extraction projects at the MEG Energy Christina Lake SAGD Facility located in northern Alberta, southeast of the city of Fort McMurray. The MEG Energy INTEGRAL Alliance started in late March 2009 and has experienced solid growth over the past 20 months with approximately 100 WorleyParsons personnel currently on the team. Current work includes the sustaining asset work to maintain and increase the production of the existing facilities and designing the field facilities for MEG Energy’s Phase 2B SAGD Project. Future workload is trending upward with expected revenue for WorleyParsons in 2011 in the range of CAD20 – 25 million.

    John Grill, Chief Executive Officer of WorleyParsons, commented: “This extension of our relationship with MEG Energy reinforces our strong capability as a full service provider and strengthens our working relationship with MEG Energy at the Christina Lake SAGD Facility”.

    MEG Energy is focused on sustainable in situ oil sands development and production in the southern Athabasca region of Alberta, Canada. MEG Energy is actively developing enhanced oil recovery projects using steam-assisted gravity drainage (SAGD) extraction methods, which reduce the amount of surface disturbance.

    www.worleyparsons.com

    http://www.traderdealer.com.au/Fundamentals/wor

    Post to Twitter

    ASX Company News: Worley Parsons Awarded Global BP Onshore Engineering Contract

    Tuesday, November 16th, 2010

    WorleyParsons Limited (WOR) is pleased to announce the award by BP of an Engineering and Project Management Services (EPMS) Global Agreement (GA) to provide engineering and project management services for BP’s onshore facilities developments. WorleyParsons has been selected as one of two companies to provide onshore EPMS under a four year contract with an option to extend. This non-exclusive award is in addition to the Offshore Facilities EPMS GA awarded in 2008 and Subsea Facilities EPMS GA awarded to INTECSEA (a WorleyParsons subsidiary) in 2007.

    Commenting, the Chief Executive Officer of WorleyParsons, Mr John Grill, said: “WorleyParsons is delighted to have been selected by BP for our third EPMS Global Agreement and to continue working closely with BP across its entire facilities developments portfolio.”

    www.worleyparsons.com

    http://www.traderdealer.com.au/Fundamentals/wor

    Post to Twitter

    ASX Company News: Worley Pasons Secures $580 million Engineering Contract From BG Group

    Wednesday, November 3rd, 2010

    As described in the recent BG Group news release dated 31 October 2010, WorleyParsons (WOR) is pleased to announce that it has been appointed as the detailed engineering and procurement services contractor for the upstream gas field facilities and related infrastructure associated with QGC’s Queensland Curtis LNG Project.  The potential revenue for WorleyParsons from this contract is in excess of $580 million.

    WorleyParsons’ CEO, Mr John Grill, said “I am extremely pleased that WorleyParsons has secured this award, providing us with the opportunity to partner with BG and QGC on this cutting-edge coal seam gas project”.

    www.worleyparsons.com

    http://www.traderdealer.com.au/Fundamentals/wor

    Post to Twitter

    Dividends: Worley Parsons Ex Dividend On 30/8/2010

    Friday, August 27th, 2010

    WorleyParsons Ltd (WOR) will go ex dividend on 30/8/2010. The current dividend payment is 40 cents and it is 47% franked. The record date is 3/9/2010 and the dividend will be paid on 28/9/2010. Based on the full year payment the dividend yield is 3.6%.

    *Current Yield: 1.9% Franking: 47% DRP Discount: Not Available

    WorleyParsons Ltd

    *Yield has been calculated on the closing price on the 26/8/2010. Current yield is based on the current dividend payment only.

    Post to Twitter

    Worley Parsons Enters Saudi Arabian Aluminium Smelter Joint Venture

    Tuesday, May 25th, 2010

    Further to the announcement to the ASX on 3 May 2010, WorleyParsons (WOR) can now confirm that it has been selected, in joint venture with Fluor Corporation, to be the managing partner in the development of a major new world class bauxite mine and alumina refinery for the Ma’aden-Alcoa joint venture in Saudi Arabia. WorleyParsons’ appointment follows its successful completion of front end engineering and associated services for the project, reinforcing its position as a global leader in the bauxite and alumina industry. The multi-billion dollar project will comprise a mine to be located at Al Ba’itha in the north of the Kingdom and an alumina refinery which will form part of a major new aluminium complex at Ras Az Zawr located on the gulf coast. WorleyParsons will provide engineering, procurement and construction management services in a 50:50 joint venture with Fluor Corporation.

    WorleyParsons’ Chief Executive Officer, Mr John Grill said “We are pleased with our appointment to the mine and refinery project. This project will continue our involvement with Ma’aden’s ongoing developments and reinforces our project delivery capability and presence in the region.” Revenue to WorleyParsons from the project is estimated to be more than A$100million.

    www.worleyparsons.com

    Post to Twitter

    Worley Parsons Secures $100 million Dupont Contract

    Wednesday, May 5th, 2010

    WorleyParsons is pleased to announce that it has been awarded a three year contract for engineering, procurement and construction management services (EPCM) by the diversified chemicals and manufacturing giant DuPont. The contract is to provide services to support DuPont facilities in Canada, China and the United Kingdom, with discretionary opportunities in the United States for projects with an individual value greater than US$10 million.

    This is a three year master services agreement to perform EPCM services to execute DuPont capital projects for select businesses in these regions. WorleyParsons will also provide site based teams and staff augmentation services to support DuPont’s manufacturing facilities.

    WorleyParsons will deliver the services through its global network of offices and by working with DuPont in integrated teams either at manufacturing facilities or in DuPont’s regional centres.   The contract is estimated to generate total revenue of US$100 million over the three year term.

    Commenting on the contract award, the Chief Executive Officer of WorleyParsons, Mr John Grill said: “We are excited to work with DuPont, one of the world’s leading companies, to drive long term contract performance improvement, such as safety, optimal capital spend and the efficient and effective use of resources.”

    www.worleyparsons.com

    Post to Twitter

    Worley Parsons Secures North Sea Contract

    Sunday, March 14th, 2010

    WorleyParsons Limited (WOR) is pleased to announce that it has been selected to provide front end engineering design (FEED) definition and advanced procurement services for ConocoPhillips-operated Jasmine Area Development project in the North Sea. The contract also includes an option for the detailed engineering of Jasmine and follows WorleyParsons’ successful performance of the Jasmine FEED optimisation services. WorleyParsons is performing the work from its offices in London, Woking and Kuala Lumpur.

    Mr Stuart Bradie, WorleyParsons’ Regional Managing Director Europe & Africa, says: “This award by ConocoPhillips is WorleyParsons’ first major offshore platform award in the North Sea and reinforces our commitment to the expansion of our offshore business in the North Sea.”

    www.worleyparsons.com

    Post to Twitter

    Worley Parsons Acquires Brazilian CNEC Engenharia

    Tuesday, January 5th, 2010

    WorleyParsons (WOR) and Brazilian conglomerate Camargo Correa today announced an agreement for WorleyParsons to acquire CNEC Engenharia (CNEC), the stand alone engineering and project management operation of the Camargo Correa E&C division. The purchase price will be BRL170.0 million comprising BRL130.0 million in consideration and BRL40.0 million which will be initially retained by the business as a non-core asset. The business’ pro-forma EBITDA (earnings before interest tax depreciation and amortization) for the year ending June 2010 is estimated to be BRL24.5 million.

    The capability of CNEC, based in Sao Paulo, Brazil complements the existing capabilities of WorleyParsons’ resource and energy businesses and provides a springboard for the next phase of WorleyParsons’ growth across South America. CNEC has built a regional and international reputation in thermoelectric and hydroelectric plants, subways, ports, airports, highways, wastewater, industrial plants, refining and distributing oil and gas, petrochemical and urban development throughout Brazil and in Latin America and Africa.

    Robert Edwardes, Managing Director of WorleyParsons’ United States and Latin America region commented: “The acquisition of CNEC is key to WorleyParsons achieving growth and expanding our hydrocarbons, power, infrastructure, mining and metals capability by incorporating CNEC’s globally recognized multi-discipline capabilities. CNEC will be a significant enhancement to WorleyParsons’ Latin American group. Also commenting, the President of CNEC, Mr. José Ayres de Campos said: “Joining WorleyParsons is an exciting development for CNEC, which celebrated its 50th year of business just last year. This merger of complementary talent will enable CNEC to grow geographically while adding to our core technical areas of expertise enabling us to provide our clients with a more comprehensive service both domestically and internationally.”

    WorleyParsons is a leading provider of professional services to the energy, resource and complex process industries. WorleyParsons’ business has been built by working closely with customers through long-term relationships, anticipating their needs and delivering inventive solutions through streamlined, proprietary project delivery systems. With 28,800 employees in 110 offices and 37 countries, its service capability covers the entire project lifecycle: from identifying the opportunity to the operating phase. CNEC is part of the Engineering & Construction (E&C) Division of the Brazilian conglomerate Camargo Correa and became a wholly owned subsidiary in the 1990s. CNEC services the downstream hydrocarbons, minerals and metals, hydroelectric, infrastructure (transport, water/wastewater) and environmental industries of Brazil. It is an established leader in Brazil hydro-power, with a world class capability.

    www.worleyparsons.com

    Post to Twitter