AMEC Joint Venture Signs Shell Onegas Extension Worth EUR200 Million

AMEC PLC (AMEC.LN), an international engineering and project management company, and its joint venture partners announced Monday they have secured a three-year extension, worth EUR200 million per year, for the Integrated Services Contract (ISC) for the assets known as Shell ONEgas Southern North Sea or SNS (RDSA.LN).

MAIN FACTS:

-ONEgas is a combined business unit of Shell U.K. Exploration & Production and the Nederlandse Aardolie Maatschappij B.V or NAM.

-AMEC and its joint venture partners Jacobs and Stork or AJS have secured the contract extension as a result of continued exceptional performance and business improvement.

-AJS has been delivering the ISC since 2003 and future contract extensions will also be based on performance.

-The work applies to all 54 Southern North Sea offshore assets as well as the Shell Bacton plant in the U.K. and the NAM operated Den helder gas plants in the Netherlands.

-Up to 1,000 people are employed by the joint venture across the UKCS (United Kingdom Continental Shelf) and the Dutch sector.

-AMEC will continue to provide management, engineering, maintenance execution, project delivery and operational support to one of the largest and most complex asset support contracts in the North Sea.

-Shares closed Friday at 851.50 pence.

-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [e-mail]