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GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2015
Feb 5, 2015
65003_rns_2015-02-05_97d0f190-3b60-47c2-b8cf-4ce723f12f89.pdf
Capital/Financing Update
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ASX RELEASE
6 February 2015
For immediate release to the market
Upstream Production Solutions Awarded Australia Pacific LNG Project Work
GR Engineering Services Limited (ASX:GNG) ( GR Engineering ) is pleased to announce that its wholly owned subsidiary, Upstream Production Solutions ( Upstream PS ), has entered into an additional Master Services Agreement ( MSA ) with Origin Energy Resources Limited, the upstream operator of the Australia Pacific LNG Project, for the provision of balance of plant maintenance and associated operations support services. The works under this MSA will support Australia Pacific LNG’s operations and maintenance activities in the Surat Basin in south-western Queensland.
Upstream PS has been engaged to complete scheduled and unscheduled mechanical maintenance on gas compression and water processing equipment. Work has commenced on this project which has a value of approximately $5 million over the 12 month term.
Upstream PS’s Managing Director, Mr Joe Corvetti said:
“Upstream PS has a well established track record in the supply of operations and maintenance services in Australia. We are delighted with the award of the MSA, which is complementary to the work we are currently carrying out at Australia Pacific LNG well sites.”
Upstream PS’s Regional Manager (QLD/NSW), Mr Cameron Wills said:
“Our industry experience, HSEQ and local content commitment, leave Upstream PS well placed to build on its growing reputation for providing our clients with high quality value add solutions.”
GR Engineering’s Managing Director, Mr Geoff Jones said:
“GR Engineering is pleased with the performance of Upstream PS in being awarded the additional MSA. This award demonstrates the potential of Upstream PS to develop and grow the business with leading oil and gas producers.”
About Upstream Production Solutions
Upstream PS is a client focussed and rapidly growing business with an extensive track record in the provision of operations & maintenance, well management, packaged equipment and project management services to the oil and gas industry. Upstream PS has a strong reputation for providing innovative, safe and environmentally-friendly solutions to production challenges.
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GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: [email protected] Website: www.gres.com.au PO Box 258, Belmont WA 6984 179 Great Eastern Highway, Belmont WA 6104
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For further information contact:
Geoff Jones Joe Corvetti Managing Director Managing Director GR Engineering Services Limited Upstream Production Solutions
+61 8 6272 6000 +61 3 8623 9800 [email protected] [email protected]
GR Engineering Services Limited (ASX:GNG) is an engineering, consulting and contracting company specialising in fixed price engineering design and construction services to the resources and mineral processing industry.
Founded in Perth, Western Australia in 2006, GR Engineering has successfully grown through the completion of design and construction projects for a diverse range of clients, including global mining houses, mid-tier miners and junior developers undertaking their first project.
GR Engineering undertakes feasibility studies and consulting engagements on projects globally. These studies play a key role in delivering organic growth opportunities through their conversion into design and construction projects.
GR Engineering directly employs approximately 170 professional and support staff at its offices in Perth and Brisbane in addition to its direct construction workforce and subcontractors.
GR Engineering also has a presence in the energy sector via its wholly owned subsidiary, Upstream Production Solutions (www.upstreamps.com), a provider of high quality operations & maintenance and well management services to the oil and gas industry.
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