CALGARY, Oct. 15 /CNW/ - Flint Energy Services Ltd. (Flint, the Company) announced today that its joint venture, Flint Transfield Services Limited (FT Services), successfully completed the turnaround, also referred to as a planned outage, at Suncor Energy's oil sands site near Fort McMurray, Alberta. The planned outage of Plant 25 was completed in 18 days - two days ahead of schedule, under budget, and without a single lost time injury.
As part of an integrated team with Suncor Energy, FT Services provided project management, subcontractor management and maintenance execution services for the Plant 25 turnaround.
"The collaboration between FT Services and Suncor Energy on this important turnaround reinforces our "one team" approach which continues to yield ongoing positive results as we jointly strive for operational excellence," said Andy Mackintosh, President and CEO, FT Services.
Suncor Energy, Canada's largest energy company is preparing for its next major turnaround in 2010, and FT Services, as its alliance partner, is supporting management of the integrated turnaround execution model. This will include the participation of multiple parties responsible for specific portions of the work.
FT Services delivered its first major turnaround in 2008, as well as numerous planned outages as part of an annual major events calendar. FT Services was originally awarded the ongoing five-year contract with Suncor Energy in 2007 to provide maintenance services, sustaining projects, subcontractor management and turnaround services at Suncor's oil sands facilities in Fort McMurray, Alberta, and Suncor's refinery in Sarnia, Ontario. In May 2008, the contract was extended by a further year until 2012.
Flint Energy Services Ltd. is a market leader providing an expanding range of integrated products and services for the energy industry including: production services; field construction; oilfield transportation; process equipment design and manufacturing; tubular management services; and plant management and maintenance services. Flint provides this unique breadth of products and services through over 60 strategic locations in the oil and gas producing areas of western North America, from Inuvik in the Northwest Territories to Mission, Texas on the Mexican border. Flint is a preferred provider of infrastructure construction management, module fabrication, and maintenance services for upgrading and production facilities in Alberta's oil sands sector.
FT Services was formed in August 2006 to deliver operations and maintenance solutions to the oil and gas, mining and mineral processing, petrochemical and power generation sectors in Canada. FT Services brings together Transfield Services' global experience in asset management and maintenance of complex systems and technologies, together with Flint Energy Services' extensive Canadian hydrocarbons expertise and customer relationships. FT Services' business model provides best practices in safety performance, asset management and turnaround management systems and project execution. Our approach leads to a demonstrable step change in asset performance through our collaborative contracting approach. www.ft-serv.com
Transfield Services delivers essential services to key industries in the resources and industrial, property and infrastructure sectors. A leading global provider of operations, maintenance, and asset and project management services, Transfield Services has more than 29,000 employees in Australia, New Zealand, the United States, the United Arab Emirates, Qatar, New Caledonia, South East Asia, India, Chile and Canada. Transfield Services Limited is publicly listed in Australia. www.transfieldservices.com
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements", which reflect current expectations of the management of Flint regarding future events or Flint's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements. Flint believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Flint assumes no obligation to update or revise them to reflect new events or circumstances, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Flint and its securities can be found in the disclosure documents filed by Flint with the securities regulatory authorities, available at www.sedar.com or the Company's website www.flintenergy.com.
SOURCE FLINT ENERGY SERVICES LTD.
For further information: For further information: Guy Cocquyt, Director of Investor Relations, Flint Energy Services Ltd., Telephone: (403) 218-7195, Fax: (403) 215-5445, firstname.lastname@example.org; Cheryl McNeil, Communications Manager, FT Services, Telephone: (780) 790-2172, Fax: (780) 792-3610, email@example.com