Kentz wins another contract on Sakhalin project
Engineering and construction group Kentz has been awarded a shutdown services and operations support contract with Exxon Neftegas, within the Sakhalin 1 development project in Far East Russia.
Engineering and construction group Kentz has been awarded a shutdown services and operations support contract with Exxon Neftegas, within the Sakhalin 1 development project in Far East Russia.
The contract, which is valued at around $50m to Kentz, includes the provision of all personnel, equipment, transportation, procurement and front end execution planning, as well as the management of contractor and subcontractor resources.
The project will be carried out through Kentz's Russian joint venture operating company, Kentz DEM, under which Kentz partners Sakhalin-based engineering and construction services company DalelectroMontazh.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The shutdown is scheduled to take place in July 2013 and will peak at a total workforce of approximately 600 personnel.
Michael Murphy, Chief Operating Officer of Technical Support Services for Kentz, said: "Kentz is delighted to have been chosen again to support Exxon Neftegas with its second major shutdown on the Sakhalin 1 development, following the delivery of a very successful first shutdown in late 2010.
"Globally, our Technical Support Services business continues to grow and provide high quality, solution driven services to core clients such as ExxonMobil."
The share price fell 0.75% to 437.70p by 08:35.
NR
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.
-
HMRC savings tax crackdown: More workers to pay tax directly from their wages
Banks and building societies will be required to obtain National Insurance numbers from savers to make it easier for HMRC to tax those who breach their personal savings allowance
-
It’s time to start backing the UK stock market
The UK stock market has been languishing for decades. But the tide is turning and smart investors should buy in now