UGL Limited announced that it has been awarded a new five year contract by Chevron Australia for the provision of maintenance services for the operational phase of Chevron’s Western Australian assets. The multi-million dollar contract also includes extension options beyond the initial five-year term.
Under the scope of the contract, UGL may perform mechanical, electrical and instrumentation base maintenance, plant turnaround and brownfield execution services for Chevron’s Western Australia assets. UGL expects to commence the mobilisation of its workforce early in the first half of calendar year 2014. Australian industry participation is expected to exceed 90 per cent of revenue over the life of the contract.
UGL’s Managing Director and CEO, Richard Leupen said: “We are very proud to have been selected by Chevron to provide maintenance services across the company’s portfolio of critical oil and gas assets in Western Australia. Both UGL and Chevron share a fundamental commitment to the highest standards of safety and we look forward to ensuring Chevron’s world class assets are maintained to the required exacting standards.
“Securing this contract reflects UGL’s position as a leading maintenance service provider to the downstream oil and gas industry in Australia and positions us well to be a key participant in the large pipeline of oil and gas maintenance opportunities in Australia and Asia as committed projects are brought on line, particularly in LNG.
“This significant win further strengthens UGL’s broad base of high quality, recurring revenue streams. The quality and diversity of UGL’s order book continues to remain high with approximately 85 per cent of the order book made up of long term recurring maintenance style contracts, de-risking our earnings profile in the years ahead.”
[mappress] LNG World News Staff, December 18, 2013; Image: Chevron