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| January 19, 2004 |
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| Parsons Wins Iraq Oil Contract |
Parsons Wins Iraq Oil Contract
HOUSTON - January 19, 2004. Parsons E&C announced today the award of a contract from the U.S. Army Corps of Engineers for future work restoring the Iraq oil infrastructure in the northern area of the country to pre-war production levels. The contract was awarded to the Parsons Iraqi Joint Venture, which includes Parsons E&C, based in Houston, Texas, and Parsons Corporation, based in Pasadena, California. The Worley Group of Australia is a teamed subcontractor. The task order contract covers a full range of services to restore the oil production in the northern portion of Iraq with a maximum value of $800 million.
“Rebuilding the Iraqi oil infrastructure is one of the most complex undertakings of recent times. The Parsons Worley Team is proud to be part of this essential undertaking,” explains Bill Hall, Chairman and Chief Executive Officer of Parsons E&C.
“We have a strong team and are proud to continue Parsons’ long-standing support of the Corps of Engineers. We are committed to helping the Iraqi people rebuild their infrastructure and improve their way of life in the years to come,” states Jim McNulty, Parsons Chairman and Chief Executive Officer.
“Worley is delighted that its involvement in this contract will be the first major contribution by an Australian-based company in assisting the Corps of Engineers in rebuilding Iraq’s facilities,” commented John Grill, Worley Chief Executive Officer.
Parsons E&C and Parsons Corporation have been working continuously in the Middle East on oil and infrastructure projects since the 1940s. Among its many notable projects in the area is the ongoing redesign and restoration program for the Kuwait Oil Company – a contract issued to Parsons E&C following Operation Desert Storm. Parsons began working in Iraq in the 1950s on oil, water, and transportation projects and remained in the country through the mid-1980s.
Worley, an Australian firm specializing in oil and gas projects with over 5,000 professionals worldwide and 41 offices in 18 countries, joins Parsons. The Parsons Worley Team combines long-term and extensive Middle East experience with world-class logistics and hydrocarbon track records. Both Parsons and Worley have offices in major Middle East cities, and collectively, the Parsons Worley Team has over 20,000 professionals worldwide. With 2,000 staff currently in the Middle East, the Parsons Worley Team is in an outstanding position for rapid mobilization.
Parsons E&C provides design, engineering, procurement, construction, and project management services to a global roster of clients in the oil & gas, refining, chemical & petrochemical, and power industries.
For further information contact:
Phone: (713) 407-7611
Fax: (832) 201-7387
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