Valerus wins US$38m contract from Cardón IV

abarrelfullabarrelfull wrote on 20 Mar 2014 07:08
Tags: engineering kentz s-america venezuela

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Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz engineering and construction group, is pleased to announce that Valerus, its oil and gas handling company in the US, has been awarded a contract from Cardón IV to provide engineering and procurement of a simplified early production plant in Punto Fijo, Venezuela. This US$38m contract award follows the previously announced award in November 2013 for engineering, procurement and construction of a gas conditioning and condensate stabilisation facility, also in Venezuela. Engineering, procurement and construction for the early production plant in Punto Fijo will enable first gas from the Perla field in Venezuela.

The early production plant, to be designed and constructed on a fast-track execution strategy, will be operational by the fourth quarter of 2014 and will deliver 150 million standard cubic feet per day of gas. The permanent installation will operate independently to boost production as necessary from the Perla field. It is anticipated that this project will be a significant step towards developing the full field. Valerus will again combine local resources with Lindsay Venezuela to execute the project.

Steve Gill, Chief Executive Officer of Valerus commented: "Valerus is proud to have been awarded this contract to again partner with Cardón IV and to have the opportunity to continue working together to provide energy infrastructure in Venezuela. We look forward to continuing our track record for safely delivering scalable, flexible solutions in Latin America and beyond."

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