Dec 10, 2020

Valmec secures $100m-plus asset services contract

Valmec secures $100m-plus asset services contract

Valmec has secured a $100 million-plus agreement to provide services at Origin Energy’s Spring Gully gas facilities in South-West Queensland.

The deal covers an initial term of five years and covers compression facility, wellsite mechanical and electrical maintenance services.

It may be extended further by Origin via two one-year extension options.

Valmec said the new agreement was the first major asset services contract secured after it last week unveiled an updated corporate strategy focused on transitioning into being a full asset lifecycle provider.

The Origin contract also provides a significant boost to Valmec’s forward order book, lifting it to $193 million from $93 million.

“Valmec has a long and proud working relationship with Origin which we are pleased to continue with this contract,” managing director Steve Dropulich said:.

“Since starting work with Origin in 2016 we have provided specialist technicians, equipment and parts through preventative and corrective maintenance services as well as delivered brownfield construction services to the APLNG project’s upstream gas compression and power generation assets.

“We are also proud of the active role we have played in the community and this long-term contract helps cement our Roma operations facility as a key regional hub for our business.”