MONTREAL, March 10, 2010 /CNW Telbec/ - SNC-Lavalin is pleased to announce that it has been awarded an engineering services contract for the Empresa Mixta Petromacareo Project by PDVSA Engineering & Construction, a subsidiary of Venezuela's state-owned oil company, Petróleos de Venezuela S.A (PDVSA). PDVSA Engineering & Construction has also awarded SNC-Lavalin an umbrella Technical Services Agreement (TSA) for the execution of projects in the Orinoco Oil Belt. Petromacareo is the first major award under the TSA.
SNC-Lavalin will perform the conceptual engineering for the extra heavy crude oil production, treatment, storage and transport facilities at the Junin 2 North Block in Venezuela's Orinoco Oil Belt. The Junin 2 North Block is jointly held by PDVSA and PetroVietnam.
The Orinoco Oil Belt, located north of the Orinoco River, holds significant reserves of heavy oil, and it is PDVSA's key area of focus for development to enhance its oil production.
"This contract highlights SNC-Lavalin's expertise in the design of heavy oil production, processing and handling facilities," said Jean Beaudoin, Executive Vice-President, SNC-Lavalin Group Inc. "PDVSA has been a key client for SNC-Lavalin for more than 12 years and we are pleased to play a key role in the strategic development of its oil resources."
SNC-Lavalin (TSX:SNC) is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com
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