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
Sign up for MoneyWeek's newsletters
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.
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storage
Selling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits