London, UK,
22
July
2015
|
07:00
Europe/London

Amec Foster Wheeler and BBS Engineering form new joint venture in Ghana

Summary

Tenth anniversary of Amec Foster Wheeler’s Ghanaian presence celebrated with new local training initiative 

Amec Foster Wheeler announces today the formation of a new joint venture company in Ghana - “Amec Foster Wheeler & BBS Limited”.

“Amec Foster Wheeler & BBS Limited” (Company registration number CS642502015) was established on 23 June 2015 in Accra. The formation of this joint venture brings together two strong companies – Amec Foster Wheeler and BBS Engineering, with a combined vision of delivering high quality technical services to the energy sector in Ghana.

The new partnership combines the local skills, knowledge and experience of BBS Engineering with the global capability, quality and international standards of Amec Foster Wheeler. A key aim of the joint venture company is to be recognised as a provider of training and development to local Ghanaians who wish to build a career in the oil and gas industry.

Amec Foster Wheeler has a workforce of over 40,000 people in more than 50 countries worldwide and has been active in Ghana since 2005 in a variety of market sectors, including hydrocarbons, mining and environmental services.

Amec Foster Wheeler’s current Ghanaian projects include:

  • Working on three inland gold mining projects at the Ahafo, Akyem and Subika Underground mines, all for divisions of Newmont Mining Corporation; and
  • Since 2014, a multi-disciplined on-the-ground 50-strong engineering team, supported by Amec Foster Wheeler’s global network, has focused on the Kwame Nkrumah Floating Production Storage and Offloading vessel (FPSO) in the Jubilee field, where it is executing various brownfield engineering projects.

BBS Engineering Limited was established in 2003 to provide support services to oil field, industrial and construction engineering businesses. BBS Engineering offers services to most of the active oil companies in Ghana and is the main representative for Castrol BP lubricants and Sealite UK Ltd (Marine Navigation Aids) in the country. BBS Engineering is a successful local Ghanaian firm, having recently been awarded the BID International Quality Crown award in 2014. The company has various divisions including the construction of storage tanks, piping fabrication, marine engineering, general supply and oil and gas services.

Our new joint venture is well positioned to support the growth of Ghana’s hydrocarbon industry and provide training and development to its citizens. We look forward to a long and successful partnership with BBS Engineering, as we seek to enhance the already significant opportunities for Ghana’s hydrocarbon industry.
Dr Cyril Titus-Glover, Country Manager for Amec Foster Wheeler’s Ghanaian operations and Managing Director (MD) for the new joint venture
Together, this exciting partnership will enable two committed companies to provide world-class services to local and international clientele in Ghana and across West Africa. There is a critical need for local skills development in an industry that is increasingly becoming a key growth driver of the Ghanaian economy, so the timing of our JV could not be better. Amec Foster Wheeler & BBS Limited is well positioned to contribute significantly to the country as it establishes itself as an oil and gas services hub in the West African sub-region and the African continent at large.
Benedict Tandoh, CEO of BBS Engineering and Deputy MD of the new company
Notes to editors

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.

 

With pro-forma 2014 annualised scope revenues of £5.5 billion and over 40,000 people in more than 50 countries, the company operates across the whole of the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.

 

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

 

Forward-Looking Statements

This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements.

 

Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.