Boskalis signs agreement with Saudi Aramco to partner in multi-billion investment program
26 Novembre 2018 - 8:30AM
Papendrecht, 26 November 2018
Royal Boskalis Westminster N.V.
(Boskalis) with its partners has been selected as a contractor on
Saudi Aramco's Long Term Agreement for Offshore Facilities (LTA)
program.
The LTA is part of an ambitious offshore
investment program and covers engineering, procurement,
construction, transportation and installation (EPCI) contracts to
support Saudi Aramco's Offshore Maintain Potential Program, Oil
& Gas Program, and other offshore expansions. Within the scope
of the LTA, investments could exceed USD 3 billion per annum with a
program duration of 6 years, with options by Saudi Aramco to extend
for a further 3 plus 3 years. Selected contractors like Boskalis
have the right to bid for tenders put out by Saudi Aramco without
further technical prequalification, considerably shortening the
lead time through to award.
Boskalis acquired the agreement in consortium with
the United Arab Emirates-based company Lamprell. Lamprell will
focus on the engineering, procurement and construction of offshore
structures, such as topsides and jackets. Boskalis will be
responsible for the transport and installation of these structures,
in addition to dredging activities and specialist subsea
activities, including survey as well as pipeline and cable
installation.
This agreement is an important milestone for
Boskalis and supports the strategic vision of selective growth
towards becoming a full-scope transport & installation
contractor at the high-end of the offshore energy market.
Peter Berdowski, CEO Boskalis: "This agreement with Saudi Aramco marks an important
milestone for Boskalis. As spearhead of our strategy we have over
the last number of years invested in vessels and people to broaden
our offshore transport & installation capabilities. The choice
for Boskalis as LTA partner supports and confirms our strategic
vision. We are proud of the confidence shown by Saudi Aramco and
look forward to working in partnership. In the coming year, we will
focus on tendering and building up our local organization in
preparation of the execution of projects for the period thereafter.
It is expected that the agreement will generate multiple hundreds
of millions of euros revenue for Boskalis."
For further information
Investor relations:
Martijn L.D. Schuttevâer
ir@boskalis.com
Press:
Arno Schikker
press@boskalis.com
T +31 78 6969310
Royal Boskalis
Westminster N.V. is a leading global services provider operating in
the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round
solutions to infrastructural challenges in the maritime, coastal
and delta regions of the world with services including the
construction and maintenance of ports and waterways, land
reclamation, coastal defense and riverbank protection. In addition,
Boskalis offers a wide variety of marine services and contracting
for the oil and gas sector and offshore wind industry as well as
salvage solutions. Furthermore, Boskalis has a number of strategic
partnerships in harbor towage and terminal services (Kotug Smit
Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco).
With a versatile fleet of more than 900 vessels and floating
equipment and 10,700 employees, including associated companies,
Boskalis operates in 90 countries across six
continents.
This press release can also be found on our
website www.boskalis.com.
pdf version press release
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Koninklijke Boskalis Westminster N.V. via
Globenewswire
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