Upstream PS is a wholly-paid subsidiary of GR Engineering Services Limited (ASX:GNG) with a comprehensive track record in providing operations, maintenance, projects and consulting services. For more than 20 years, the upstream PS team has been involved in the oil and gas industry and has a reputation for offering safe, innovative and sustainable solutions to production challenges. GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announce that its wholly-owned subsidiary Upstream, Production Solutions (UPstream PS) has entered into an agreement with the Australian Government`s Department of Industry, Science, Energy and Resources (Department) to provide operating and maintenance services at Northern Endeavour`s floating production, storage and taketake facility (agreement). As part of this program, the Upstream PS department has now been responsible for the provision of operating and maintenance services enabling the reintroduction of minimum personnel and the restoration of safety-critical services for the Northern Endeavour, upstream PS has certainly relaunched FPSO staff and is advancing on a first short-term contract to provide services to the ministry under commercial conditions in a non-production environment. Supporting the customer through the change of ownership, which now works in an integrated team focused on a large production, as announced on February 17, 2020, had offered upstream PS operations and maintenance services for the Northern Endeavour FPSO as part of a short-term agreement and had singed to agree on a longer form contract with the department. The initial term of the contract expires on October 31, 2020, with the possibility of extending the contract for a further term. Based on the current budget for core services and planned maintenance activities, contract revenues for the first period are expected to be approximately $32 million. GR Engineering is a leading engineering and contracting consulting firm specializing in providing high-quality construction and construction services to the mining and mineral industry. The company`s services cover all aspects of the project lifecycle, from the first phase of evaluation and study to design, construction, commissioning and operational support. Geoff Jones, managing director of GR Engineering, commented on the agreement as: . . “We are pleased that the upstream PS has been identified as the party best placed to support the department`s immediate security objectives under Northern Endeavour`s Time Operations Program. UPstream PS`s participation in the operation and maintenance of the Northern Endeavour for three and a half years, and at any time prior to NOGA`s liquidation, facilitated the PS`s rapid response upstream and the safe mobilization of the facility.
For more information on the Northern Endeavour Temporary Operations Program, see www.minister.industry.gov.au/ministers/pitt/media_releases.