WorleyParsons JV Awarded GBP170M Kashagan Contract

April 14. Dow Jones

WorleyParsons JV Awarded GBP170M Kashagan ContractWorleyParsons Ltd. said Wednesday its joint venture has been awarded an updated contract for front-end engineering and design on Royal Dutch Shell PLC’s Kashagan oil field in Kazakhstan.

WorleyParsons said in a statement that the contract awarded to it and joint venture partners CB&I and Aker Solutions ASA was expected to generate revenue of GBP170 million. It replaces an earlier contract announced in January 2009.

The contract includes FEED work for both onshore and offshore facilities and pipelines, as well as options for early works, detail engineering, procurement services, technical assistance and design-system integrity.

The work, which began in November 2008, is expected to be completed next year.

WorleyParsons has a 45% stake in the joint venture, with Aker holding 30% and CB&I 25%.

http://online.wsj.com/article/BT-CO-20100414-701499.html?mod=WSJ_World_MIDDLEHeadlinesAsia

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