Transfield Services extends Suncor asset management services agreement to 2016
15 November 2010
Transfield Services’ announced today that its Canadian joint venture, FT Services, has been awarded an extension of its asset management services contract with Suncor Energy for a total of five years.
This extends the existing contract to 2016 with an estimated value in excess of C$2 billion.
As part of the performance based agreement, FT Services will deliver asset management services to Suncor Energy’s operations in Fort McMurray, its SAGD facility located at its Firebag operation north of Fort McMurray and its Sarnia refinery in Ontario.
Transfield Services’ Managing Director and CEO, Mr Peter Goode, said today: “This extension reinforces our status as Australia’s premier oil and gas maintenance provider with an expanding global presence. It also consolidates our presence in Canada’s growing oil sands industry and positions the Company well as further opportunities emerge.”
“A fundamental element of Transfield Services’ strategy is to enhance profitability for both our clients and our shareholders by working cooperatively in order to achieve desired business outcomes. The nature of our performance based agreement with Suncor Energy reflects this ground breaking approach and the benefits it is delivering to both parties,” Mr Goode commented.
Including Transfield Services’ share of the Suncor Energy contract extension, the total amount of secured work announced by the Company since 1 July 2010 now totals A$2.1 billion.
Over 85 percent of the Company’s services are delivered under long-term contracts and relationships with key clients.
Transfield Services has a robust pipeline of work developing in oil and gas, power, defence, transport and social infrastructure, providing continuing diversification for the business.
| Transfield Services extends Suncor asset management services agreement to 2016 |
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Transfield Services employs over 27,000 people across 21 industries and 13 countries.
We are a global provider of operations, maintenance and construction services to the Resources, Energy, Industrial, Infrastructure, Property and Defence sectors.
We deliver asset management services across all phases of the asset lifecycle, from concept and creation, to services that sustain, optimise and enhance our Client’s assets.
With diverse global experience and expertise, we share our knowledge and challenge thinking to develop and implement innovative solutions that deliver real value for our Clients.
Our unique approach enables us to deliver continuous improvements in asset performance and sustain long term relationships with our Clients and partners.