Kentz secures second major contract in a week
Irish-founded engineering services group, Kentz has secured a second major contract win in under a week, yesterday announcing the award of a five-year framework contract for general engineering services on the SAMREF refinery in Saudi Arabia.
Earlier this week the company — which specialises in providing infrastructural support services for major oil and gas exploration companies around the world — announced the winning of a $190m (€141m) three-year contract with Qatar Petroleum, which will see it install and monitor industrial control systems for nearly 800 oil wells across Qatar’s Dukhan Oilfield.
The Saudi deal will see Kentz (via its local subsidiary, Saudi Arabian Kentz Ltd) provide experienced and qualified design engineers, technicians, planners and support professions of different specialties and disciplines when required.
SAMREF is a complex refinery which was formed for the development, construction, ownership and operation of crude oil refining facilities in Yanbu, Saudi Arabia.
It is an equally owned joint venture between Saudi Aramco and Mobil Yanbu Refining Company, a wholly owned subsidiary of ExxonMobil.
Kentz, which also recently noted that it is on track to deliver double digit earnings growth this year, has seen its new business levels increase during 2013 on the back of an increased level of contract bidding activity during the first six months of the year.
As of the end of October, the company had a record project backlog level, valued at €3bn, with a prospect pipeline valued at over $15bn.
It also had a strong order intake, of $1.8bn worth of projects, in the first 10 months of the year.