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Stork Secures Asset Integrity Contract with Chrysaor
Public Company Information:
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IRVING, Texas & UTRECHT, Netherlands--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Stork, part of Fluor’s Diversified Services segment, was awarded a one-year contract plus two options of one-year each by Chrysaor. The contract will see Stork continue to deliver an integrated portfolio of specialist asset integrity support services to the Armada, Everest and Lomond offshore production platforms located in the Central North Sea. Fluor booked the undisclosed contract value in the third quarter of 2017.
“This award is substantial in terms of our combined service offering as well as the scale and volume of deliverables that will support approximately 120 onshore and offshore jobs,” said Erik-Jan Bijvank, regional vice president of Stork’s UK, Middle East and Africa region. “We are proud to work with Chrysaor because of Stork’s shared commitment to safety, the delivery of excellence and continuous improvement. This integrated contract provides significant opportunities to support Chrysaor with its goal to maximize efficiency across its North Sea asset portfolio.”
Under this contract, Stork will deliver an inclusive range of services and capabilities to extend the assets’ life cycle. Through proven methodologies, Stork will assess any necessary work, optimize and deliver an inspection process to meet the operational strategy for each asset and then undertake any necessary repairs. This integrated capability reduces failures while extending an asset’s life.
Stork, a Fluor company, continually improves the performance of its clients’ assets through innovative and data-driven asset management and maintenance solutions, from concept and design to decommissioning. We are committed to growing our client’s business, sustainably and successfully, by setting new standards of excellence in asset management. Underpinned by our core values of safety, integrity, teamwork, client focus and excellence, we aim to be the industry reference – every day, everywhere. For more information, please visit www.stork.com or follow us on Twitter @StorkTS.
Chrysaor is a private company established in 2007 and focused on generating superior equity returns by developing and commercializing oil and gas resources. In January, Chrysaor signed a sales and purchase agreement to acquire a package of assets in the UK North Sea from Shell.
On completion of the acquisition, Chrysaor will become one of the largest producers of oil and gas in the UK. The assets being acquired produced 115,000 barrels of oil equivalent per day in 2016.
The company will become a self-sustaining full cycle E&P company, with a portfolio of assets balancing near-term development with production growth, combined with significant gearing to appraisal and exploration success.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served its clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 149 on the Fortune 500 list with revenue of $19 billion in 2016 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow Fluor on social media at Facebook, Twitter, LinkedIn and YouTube.
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