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Worley (ASX:WOR) CEO, Andrew Wood - The Market Herald
  • ASX 200-lister Worley (WOR) has been awarded two contracts by Total E and P Mozambique Area 1 Limitada
  • Worley will provide engineering and consulting services for the world-class Mozambique LNG Project
  • Works will be conducted by Worley's local Mozambique operation
  • Revenue from the contracts has not been disclosed
  • Worley is up a slight 0.29 per cent with shares trading for $14.04 each

ASX 200-lister Worley (WOR) has been awarded two master service agreements (MSAs) by Total E&P Mozambique Area 1 Limitada.

Under the contracts, Worley will provide in-and-out of country services. These include engineering, consulting and specialist engineering for delivery of onshore and offshore subsea facilities.

These services are crucial in supporting the development of the Mozambique LNG Project.

Worley has a strong global presence, servicing six out of seven of the continents.

Within Africa, the engineering services company has offices in Angola, Mozambique, Kenya, Nigeria and South Africa.

These contracted works will be conducted by Worley's local operation in Mozambique with support from its global businesses, including its Perth-based consultant Advisian.

"Through the MSAs, we will help Total and its partners in the Mozambique LNG Project meet the world’s changing energy needs," CEO Andrew Wood said.

Andrew remains the current CEO of Worley until after a Board meeting set to take place next week.

The Worley veteran's retirement and resignation was announced on February 3.

Since 2010, 75 trillion cubic feet of recoverable natural gas has been discovered in the Offshore Area 1 which Total operates. This amount is the equivalent of a 12 billion barrel oil field.

The Mozambique LNG Project represents a significant opportunity to meet increasing world demand for a sustainable, reliable and cleaner source of energy. Construction of the LNG facility commenced in August last year.

Revenue generated from the contracts has not yet been disclosed.

Worley is up a slight 0.29 per cent with shares trading for $14.04 each at market close.


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