Papendrecht, 5 October 2009
Royal Boskalis Westminster N.V. announces that its subsidiary Lamnalco has been awarded a long-term oil services contract by Caspian Pipeline Consortium (CPC). Including indexation, the estimated contract value of Boskalis' share is EUR 85 million and the 10-year contract is due to commence mid 2010.
CPC operates the pipeline and related infrastructure linking the oil fields of West Kazakhstan with the Marine Terminal on the Russian Black Sea coast close to Novorossiysk. Crude oil export takes place through two Single Buoy Moorings (SBMs) located offshore. Lamnalco will provide a turnkey package of services for the complete operation as well as a permanent on-site dive team for SBM maintenance and comprehensive oil spill response services. This will involve the deployment of 15 modern vessels and the workforce will comprise approximately 170 mostly full-time staff ashore and afloat with the majority being sourced from the local area.
The Boskalis strategy is designed to benefit from the key macro-economic drivers that are fueling global demand in our selected markets: global trade, increasing energy consumption, expanding population pressures and the challenges of changing climate conditions. Boskalis facilitates the global transport of oil and gas through the maritime and terminal services of Lamnalco.
Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. Boskalis provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 10,000 employees.
For further information please contact:
Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone: +31 78 69 69 822 / +31 6 200 10 232
Telefax: +31 78 69 69 020
This press release can also be found on our website www.boskalis.com
For IR matters contact our Director of Investor Relations & Corporate Communications.
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