Interserve Regulatory News (IRV)

8 Aug 2011 07:00

INTERSERVE RIDES THE QATARI GAS TRAIN

Interserve, the international support services and construction group, has won projects in two developments in Qatar through its associate company, Gulf Contracting (GCC), worth an aggregate £70 million. Both are at Ras Laffan, one for JGC and the other for Nakilat, and result from the country's ongoing development of the huge natural gas reserves in the North Field, the world's largest single deposit, located some 40 miles offshore.

JGC is building the gas-processing facilities for the major Barzan onshore project, which is managed by RasGas. GCC will construct office and administration buildings and associated infrastructure for JGC, and will provide temporary accommodation, in two projects worth approximately £60 million together. The Barzan facility is being completed in three phases, the first of which is due to come on stream in 2014. It will process 1.4 billion cubic feet of gas a day which, together with the facility's other petrochemical products, will be equivalent to a daily output of more than 300,000 barrels of oil.

For long-term client Nakilat GCC has been awarded work worth around £10 million as part of the continuing development of the dry docks and associated marine support infrastructure for Nakilat's LNG tanker fleet. This will include sub-structure work and the construction of a substation, a production-support facility and storage. GCC recently received a health and safety award for achieving 11 million man-hours on the Nakilat site without a lost-time incident since work started in 2009. GCC is the only company to achieve this outstanding milestone.

"These projects demonstrate that, for companies which have the necessary experience and local knowledge, Qatar continues to be at the forefront of growth in the Middle East," said Adrian Ringrose, Chief Executive of Interserve. "Barzan will be one of the country's main developments over the coming years, and our involvement at this stage positions us well for future work. And this latest contract with Nakilat represents the continuation of a successful relationship that stretches over several years, and brings the total value of work we shall have undertaken on its behalf to nearly £100 million."

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For further information please contact:

Giles Scott 0118 960 2307 Head of Corporate Communications Elizabeth Morley / Tom Eckersley / Sam Turvey 020 7379 5151

Maitland About Interserve

Interserve's vision is to be the Trusted Partner of all our stakeholders. We are one of the world's foremost support services and construction companies, operating in the public and private sectors in the UK and internationally. We offer advice, design, construction, equipment and facilities management services for society's infrastructure. Interserve is based in the UK, has revenue of £1.9 billion and a workforce of nearly 50,000 people worldwide. Website: www.interserve.com.

Notes to editors

Interserve's share of Gulf Contracting Company is 49 per cent.