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Support services titan AMEC has won a design contract from French utility company GDF Suez, which wants to use AMEC's expertise on its Cygnus gas field development in the UK bit of the North Sea.
The detail design contract is valued at an estimated £60m. This latest detail design phase, which starts immediately, is scheduled for completion in 2014. The contract will create almost 200 new jobs at peak, and will safeguard a further 160 who are already part of the London-based team.
Jean-Claude Perdigues, GDF Suez Exploration & Production Managing Director, said: "Cygnus is a very exciting project for GDF Suez and we have high expectations of the AMEC team to help us deliver a successful development."
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Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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