BP, WorleyParsons enter oil services JV

WorleyParsons has secured a 50 per cent stake in New Zealand Oil Services after forming a joint venture with BP.

NZOSL is an energy storage terminal operator which provides services to its shareholders BP Oil and Z Energy.

Under the agreement, NOZSL will operate BP’s seven bulk fuel storage, handling and distribution facilities in New Zealand.

WorleyParsons will deliver engineering, project delivery and asset management services to NZOSL as the preferred contractor.

Andrew Wood, WorleyParsons chief executive, said, “This contract demonstrates the synergies following our acquisition of Amec Foster Wheeler UK Oil & Gas Limited in 2017.

“It builds upon our established relationship with BP and utilises WorleyParson’s maintenance, modifications and operations (MMO) expertise and capability.”

Concurrently, WorleyParsons has awarded a four-year operations and maintenance contract to TW Power Services at the Synergy-owned Collie power station in Western Australia.

WorleyParsons holds a 50 per cent interest in TW Power Services; its remaining stake is held by Spanish-owned Broadspectrum.

Wood said, “We look forward to continuing our relationship with Synergy and the Collie power station, which will span more than 20 years of continual service.”

Synergy is state-owned and represents Western Australia’s largest electricity generator and energy retailer.