MONTREAL, Nov. 12, 2014 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that Kentz Corporation, a member of the SNC-Lavalin Group, has signed a Project Management Contractor Agreement in Iraq with one of the world's leading blue-chip International Oil Companies (IOC) for a three-year term with a potential value of up to approximately CAN$110 million. The contract includes procurement, engineering, project management and construction services.
Kentz will deliver the services in three phases i) conceptual design and preparation of associated cost and schedule estimates; ii) front-end engineering design support and the preparation of bid packages for engineering, procurement, and construction (EPC) contracts; and iii) support of the IOC's project teams during project execution.
The project award follows the acquisition of Kentz by SNC-Lavalin on August 22. The acquisition of one of the world's top oil and gas service providers has transformed SNC-Lavalin's capabilities in the sector, creating a group of approximately 20,000 high-caliber employees with end-to-end expertise for large and complex projects. SNC-Lavalin and Kentz are now combining their industry leading capabilities for the direct benefit of clients.
"As the first major contract signed since SNC-Lavalin and Kentz brought their oil and gas businesses together, this project award showcases both the geographic reach and the wider range of services we can now directly provide to clients," said Neil Bruce, President, Resources, Environment & Water, SNC-Lavalin Group Inc. "Our integration continues to plan, and we are very pleased with the progress and working relationships we have built already."
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's 45,000 employees provide EPC and EPCM services to clients in a variety of industry sectors, including mining and metallurgy, oil and gas, environment and water, infrastructure and clean power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com
For further information: Media: Lilly Nguyen, Public Relations Manager, Global Corporate Communications, SNC-Lavalin Group Inc., 514-393-8000, ext. 54772, [email protected]; Investors: Denis Jasmin, Vice-President, Investor Relations, SNC-Lavalin Group Inc., 514-393-8000, ext. 57553, [email protected]