Worley wins two contracts from Total for Mozambique LNG works

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Worley wins two contracts from Total for Mozambique LNG works

10:16 CAT | 20 Feb 2020

Worley announced yesterday that it had been awarded two master service agreements (MSAs) by Total for the Mozambique LNG Project to provide in-and-out of country services, including engineering, consulting and specialist engineering for delivering onshore and offshore (subsea) facilities to support the development of the new LNG facility. [Photo: Market Herald]

ASX 200-lister Worley (WOR) has been awarded two contracts by Total E and P Mozambique Area 1 Limitada
Worley will provide engineering and consulting services for the world-class Mozambique LNG Project
Works will be conducted by Worley’s local Mozambique operation
Revenue from the contracts has not been disclosed
Worley is up a slight 0.29 per cent with shares trading for $14.04 each

ASX 200-lister Worley (WOR) has been awarded two master service agreements (MSAs) by Total E&P Mozambique Area 1 Limitada.

Under the contracts, Worley will provide in-and-out of country services. These include engineering, consulting and specialist engineering for delivery of onshore and offshore subsea facilities.

These services are crucial in supporting the development of the Mozambique LNG Project.

Worley has a strong global presence, servicing six out of seven of the continents.

Within Africa, the engineering services company has offices in Angola, Mozambique, Kenya, Nigeria and South Africa.

These contracted works will be conducted by Worley’s local operation in Mozambique with support from its global businesses, including its Perth-based consultant Advisian.

WOR-1-800x430 — *Worley CEO Andrew Wood*

Worley CEO Andrew Wood said: “We are pleased to continue providing services to the LNG development and to support one of Africa’s largest projects. Through the MSAs, we will help Total and its partners in the Mozambique LNG Project meet the world’s changing energy needs.

Andrew remains the current CEO of Worley until after a Board meeting set to take place next week.

The Worley veteran’s retirement and resignation was announced on February 3.

Since 2010, 75 trillion cubic feet of recoverable natural gas has been discovered in the Offshore Area 1 which Total operates. This amount is the equivalent of a 12 billion barrel oil field.

The Mozambique LNG Project represents a significant opportunity to meet increasing world demand for a sustainable, reliable and cleaner source of energy. Construction of the LNG facility commenced in August last year.

Revenue generated from the contracts has not yet been disclosed.

Worley is up a slight 0.29 per cent with shares trading for $14.04 each at market close.

Source: Market Herald / MSN