Transfield Services Limited (ASX:TSE) has been awarded a $200 million maintenance contract for works on QGC’s Curtis Liquefied Natural Gas Project.
The five year contract has an option for a further two years and the potential for revenue to increase as project investment increases.
CEO Graeme Hunt says the contract is a direct result of Transfield’s strategic focus on Queensland’s growing coal seam gas industry.
Mr Hunt says the contract follows the award of a construction contract with QGC in October, demonstrating Transfield’s ability to deliver services across the full asset life-cycle.
QGC is wholly owned by global energy company BG Group and supplies about 20 per cent of Queensland’s natural gas.
Transfield Services reported a net profit of $85 million for fiscal 2012.
TSE Price at posting:
$1.57 Sentiment: None Disclosure: Held
