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United States,Venezuela : HOLLYSYS wins contract to provide automatic train protection systems
Publish Date : 21-Mar-2014
Kentz won a €27.3 million engineering contract in Venezuela — through its US-based oil and gas handling subsidiary, Valerus — representing the group's fourth substantial global contract win inside February 2014.
The Irish-founded engineering services group — which specialises in giving infrastructural support services for oil and gas exploration companies around the globe— acquired Valerus, for €316 million, in December 2013 in a bid to raise its foothold in the Latin, US, and South America.
The new contract will see the company give procurement and engineering services for an early- stage production plant in Punto Fijo in Venezuela for Carlon IV; a local company jointly owned by Spanish oil and gas group, Italian energy giant, Eni and Repsol.
The plant will be operational by the fourth quarter of 2014 and deliver 150 million standard cubic feet per day of gas.
Kentz announced that one of its joint-venture vehicles in Dubai won an engineering services contract from Shell Iraq Petroleum Development.
In Mozambique, for one of the biggest coal mining projects in Africa was signed in March 2014. In February 2014, a Kentz joint- venture was awarded a $640 million development contract for an onshore oil facility in Australia.
At the beginning of 2014, the group said it closed 2013 with a pipeline of outstanding work projects valued at €11.4 billion and in a strong financial position.
Group chief executive, Christian Brown, as part of Kentz's final trading update ahead of its results announcement said, "We are starting the year in a very strong position and foresee the delivery of yet another strong performance in 2014."
