SNC Lavalin
Solid year in oil and gas for the Quebec-based engineers
Canadian multi-platform engineers SNC Lavalin posted revenue of $1.6 billion in the first quarter of 2011, a 25.1% increase in profits over the previous year.
Lavalin’s backlog also looks healthy, with $9.4 billion on the books in March compared with $8.6 billion at the end of March 2010.
The firm has been selected, together with its local Saudi Arabian 50/50 joint venture partner, The Zuhair Fayez Partnership, by Saudi Aramco, to perform general engineering and project management services (GES+) under a five-year reimbursable contract.
Under the contract, SNC-Lavalin and The Zuhair Fayez Partnership will perform front-end engineering and design and select detailed engineering, as well as project management services to support the execution of Saudi Aramco’s capital programme.
In the summer of last year SNC-Lavalin was awarded an EPC contract by Jordan Phosphate Mines Co. (JPMC) to upgrade and increase the capacity of two sulphuric acid plants in Aqaba, Jordan. SNC-Lavalin’s revenues from the project will be approximately US$81 million.
Work has begun and the project is scheduled for completion in 18 months.
