Amec Foster Wheeler wins Upper Zakum Field contract extension
Project Management Consultancy contract awarded by ZADCO for UZ750 project, UAE
Amec Foster Wheeler announces today the company has been awarded an extension to its existing Project Management Consultancy (PMC) contract for the UZ750 project in the Upper Zakum (UZ) field, located 84 kilometres north-west of Abu Dhabi. The value of the contract has not been announced.
The contract was award by the Zakum Development Company (ZADCO), which operates the field through a venture involving the Abu Dhabi National Oil Company, ExxonMobil and the Japan Oil Development Company Ltd.
The UZ750 project commenced in 2008 to redevelop the Upper Zakum (UZ) Field, which is recognised as the second largest oil field in the Gulf and comprises four artificial islands with associated drilling and production facilities.
Amec Foster Wheeler’s scope of work includes PMC Services to be delivered as part of an Integrated Project Management team. ZADCO will oversee the contractors’ delivery of reimbursable Engineering, Procurement and Construction (EPC) scopes of work, as well as commissioning and start-up support of the facilities. This work is scheduled to complete in December 2017.
This UZ750 contract win cements Amec Foster Wheeler’s ongoing engagement in this strategically important project. The Middle East is a key growth area for Amec Foster Wheeler and we look forward to continuing our relationship with ZADCO on this next important phase of work.
Amec Foster Wheeler has been engaged on the UZ750 project since June 2008 when it was awarded the initial PMC contract. The UZ750 project is an important investment for both ZADCO shareholders and Abu Dhabi, given it will achieve and sustain oil production at one million barrels of oil per day until 2050 and beyond.
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.
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.