Transfield Services and WorleyParsons Secure $617 Million of Maintenance Contracts from Woodside Brownfield

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Researched by Industrial Info Resources (Sugar Land, Texas)--Transfield Worley Services (TWS) (Perth, Australia), a 50:50 joint venture of Transfield Services Limited (ASX:TSE) (North Sydney, Australia) and WorleyParsons Limited (ASX:WOR) (North Sydney), has secured contracts worth $617 million from Woodside Petroleum Limited (OTC:WOPEY) (Perth) to provide maintenance services at the latter's liquefied natural gas (LNG) facilities throughout Western Australia.

The deals include a $528.64 million four-year contract for services at Woodside's onshore LNG-processing plants, as well as offshore production units in the region. The Angel platform, Goodwyn A, Karratha gas plant, King Bay supply base, and North Rankin A along the North West Shelf of Australia will be covered under the service contract, which is extendable by another four years.

The other contract, valued at $88.1 million, involves provision of maintenance and shutdown services to the offshore units and the Karratha gas plant for a period of two years. This agreement is extendable by two years.

TWS offers a range of services including engineering, procurement and construction (EPC), project and asset management, maintenance planning, implementation and shutdown, spanning several sectors such as petrochemicals, oil and gas, and power.

The company is also active on a global scale, providing technical assistance and services to ventures such as the LNG facilities of RasGas Company Limited (Doha, Qatar) in Qatar and the Malampaya gas facilities of Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands) in the Philippines. TWS' international service clients also include Goro Nickel SA (Province Sud, New Caledonia), Shell Todd Oil Services (New Plymouth, New Zealand), Shell Miri (Miri, Malaysia), and New Zealand Refining Company (NZE:NZR) (Ruakaka, New Zealand).

In May 2009, Transfield Worley TRAGS, a joint venture between Transfield Services, WorleyParsons and Trading Agency Services (TRAGS) (Doha, Qatar), secured a $117 million maintenance and shutdown service extension contract from RasGas for its LNG units in Qatar. Under the two-year extension of its existing contract with RasGas, Transfield Services will provide shutdown services that constitute about 50% of the total scope of the contract, while the joint venture will be responsible for maintenance activities. RasGas is a 70:30 joint venture between Qatar Petroleum (Doha) and ExxonMobil Corporation (NYSE:XOM) (Irving, Texas).

Late last year, TWS secured a $67 million deal for the delivery of integrated services for the gas facilities of Shell Philippines Exploration (Makati City, Philippines) in Malampaya. The seven-year contract, with a three-year extension option, spans EPC operations in addition to maintenance and shutdown services to be implemented at the Malampaya facilities from January 1 this year. Facilities at Malampaya include an offshore platform located in the shallow waters in the vicinity of Palawan Island, a 500-kilometer undersea pipeline, an inland gas processing unit, and a terrestrial gas pipeline link to two local power stations, both in Batangas.

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