Bumper $37m Middle East contract wins for Cape

SUPPORT services firm Cape has secured $37m (£22.3m) of new or renewed contracts in the Middle East.
The biggest of the contracts, which are all in Qatar, will see the Wakefield business provide a fully integrated multi-discipline maintenance contract to supply access, insulation, fireproofing, refractory, painting and general civil work to Qatargas’s onshore and offshore facilities.
Qatargas is currently exporting 10 million tonnes peeach year annum of Liquefied Natural Gas (LNG) from the existing three LNG trains to customers in Japan and Spain.
It is undergoing a period of rapid expansion and when completed in 2010 will see it exporting 42 million tonnes a year to markets in Europe, Asia and North America.
The next biggest deal is to supply access and insulation works on the ORYX Gas to Liquids (GTL) plant in Qatar.
Another will see Cape support CB&I for the tank construction on the Shell Pearl gas to liquid (GTL) plant, which is set to become the world’s largest plant converting natural gas into 140,000 barrels a day of clean-burning liquid transport fuel and other products.
Martin May, chief executive of Cape, said: “These contracts demonstrate the value to clients of Cape’s bundled services proposition and our strength across our international footprint.
“We look forward to helping our clients unlock further value through our integrated approach across the life cycle of their assets.”
Last month, Cape told shareholders at its annual general meeting that strong results in the Middle East were helping to offset project delays and a slowing Australian market.
Reporting its year end results in March, the firm said that its forward order book closed 19% ahead of 2007 levels and had increased by a further 26% since the year end.
Cape’s UK business has more than 4,500 employees with 28 facilities located strategically throughout the country.
Some 70% of its revenues are generated from capital and maintenance expenditures by customers in the power generation, oil and gas and petrochemical industries.