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WORLEY LIMITED — Capital/Financing Update 2008
Dec 22, 2008
66073_rns_2008-12-22_7e14115f-dca7-404a-9632-5cfdc685c4b1.pdf
Capital/Financing Update
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Level 12, 141 Walker Street North Sydney NSW 2060 Australia Telephone: +61 2 8923 6866 Facsimile: +61 2 8923 6877 worleyparsons.com WorleyParsons Limited ABN 17 096 090 158
23 December 2008
2 ASX Release
0 WORLEYPARSONS LIMITED 1 (ASX: WOR)
Contract Extension for Shell Martinez Refinery Brownfield Services
Shell Oil Products US has awarded WorleyParsons an extension of the Shell Martinez Master Services Agreement (Contract) until December 31, 2010. The Contract employs approximately 80-100 persons providing brownfield engineering, procurement and construction management services at the Martinez refinery under an alliance contract. Expected revenue from the contract extension is US$70 million.
The Shell Martinez refinery, located north of Oakland, California, has had an onsite Improve alliance staffed by WorleyParsons for over 20 years. Over 3 million man-hours of work have been performed with total revenues in excess of US$750 million. Literally thousands of projects have been executed, ranging in scope and size from small maintenance type activities, revamps, and modernization projects to large grassroots units all with exemplary safety performance. The team has completed 3 million man-hours without a recordable injury.
Commenting, the Chief Executive Officer of WorleyParsons, Mr John Grill, said: “WorleyParsons' contract extension for Shell at Martinez demonstrates a high level of confidence in our alliance team and the benefits derived from our company’s Improve services offering for brownfield assets. The productivity gains of having a ‘seamless’ team and our extensive long term site experience at Martinez increase value for our customer allowing for a very positive project execution environment with a strong sense of teamwork.”
Restatement - Personnel Numbers
WorleyParsons periodically discloses the number of personnel deployed across the group. The number included in the release of the FY2008 full year results on 12 August 2008 was approximately 32,200. As a result of redefining how our workshare personnel numbers are calculated, this number has been revised to approximately 31,400.
For further information please contact:
David Housego Chief Financial Officer Ph: +61 2 8923 6866 www.worleyparsons.com
Geoff Fowlstone Fowlstone Communications Ph: +61 2 9955 9899 Mob: +61 413 746 949 [email protected]