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WORLEY LIMITED — Capital/Financing Update 2014
May 18, 2014
66073_rns_2014-05-18_e1048e68-c606-4a97-a7b6-d00a5572aaf3.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
19 May 2014
ASX Release
WORLEYPARSONS LIMITED
(ASX: WOR)
Trans Anatolian Natural Gas Pipeline Project (TANAP) EPCM Contract
TANAP has awarded WorleyParsons a significant five year contract for the supply of Engineering, Procurement and Construction Management (EPCM) services for the 1,841km Trans Anatolian Natural Gas Pipeline Project which has an estimated total project cost of USD 11.7 billion. TANAP is designed to transport Caspian natural gas from the Georgian-Turkish border to Turkey’s western border with Greece. Initially it will carry production from Azerbaijan’s Shah Deniz Stage 2 project.
The contract is for the provision of project management, co-ordination, planning, design, engineering, construction management, contracting, procurement, project controls and other services for construction of the new pipeline and pipeline facilities including compressor stations. Typically EPCM fees for pipeline projects are significantly lower than those for complex process projects.
TANAP General Manager, H. Saltuk DÜZYOL, said, "This contract is critical to the success of this major link in the Southern Gas Corridor which is regionally significant to meet future gas demand in both Turkey and the European Union. WorleyParsons is well qualified to perform the required services, and has demonstrated their commitment to working collaboratively with all project stakeholders to achieve the project objectives.”
WorleyParsons’ Chief Executive Officer, Andrew Wood, said, "WorleyParsons is delighted with the award of this strategically important project. We look forward to supporting TANAP in the successful delivery of this project.”
For further information please contact:
Analysts & Investors Fran van Reyk Investor Relations Ph: +61 2 8456 7256 [email protected]
Media
Geoff Fowlstone Fowlstone Communications Ph: +61 2 9955 9899 Mob: +61 413 746 949 [email protected]