Royal Boskalis Westminster N.V. (Boskalis) announces that its associated company Smit Lamnalco has been awarded a significant annual contract by Petrofac to support Single Point Mooring operations 20 km off the Al Fao Peninsula for the Iraq Crude Oil Export Expansion Project (ICOEEP). The annual contract value is approximately USD 70 million (Boskalis share 50%) and services will commence November 2012.
The Single Point Mooring (SPM) contract covers operations and maintenance of four SPM systems. The contract has an initial duration of one year with two annual extension options resulting in a potential total contract value of USD 200 million. The agreement involves the full scope of maritime support services for the crude oil export facilities.
Boskalis' strategy is aimed at benefitting from key macro-economic factors which drive worldwide demand in our markets: expansion of the global economy, increase in energy consumption, global population growth and the challenges that go hand in hand with climate change. This project is closely related to the increasing energy consumption for which Boskalis facilitates the global transport of oil and natural gas by providing maritime and terminal services through Smit Lamnalco.
This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. 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 the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. Boskalis offers a wide variety of marine services through SMIT including harbour towage, salvage, subsea, transport and heavy lift services. It also has strategic partnerships in the Middle East (Archirodon) and in terminal services (Smit Lamnalco). Boskalis has a versatile fleet of over 1,100 units and operates in around 75 countries across six continents. Including its share in partnerships, Boskalis has approximately 14,000 employees. This press release can also be found on our website www.boskalis.com.
FOR FURTHER INFORMATION
Investor Relations:
Martijn L.D. Schuttevâer
ir@boskalis.com Press:
Arno Schikker
press@boskalis.com
T +31 78 6969310
F +31 78 6969020
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