UGL has won a three year contract for maintenance at 17 BP fuel terminals across Australia.
The contract will see the two companies form a 50/50 joint venture to carry out the operation.
According to UGL, the agreement is worth approximately $190 million over the initial three year period, and includes an option to extend the contract for a further three years on an ongoing basis.
Through the JV, UGL will provide all the engineering, maintenance, and project works for BP’s Australian fuel terminal network.
Mobilisation has already begun.
“UGL has a longstanding relationship with BP since the 1990s, providing maintenance services at BP Kwinana refinery in WA,” UGL CEO Ross Taylor explained.
“We are proud to extend our relationship with BP under this new major contract and play a role in supporting BP’s investment plans as it extends its retail fuel network across Australia over the next three years,” he said.
“Securing this contract reflects UGL’s position as a leading asset services provider to the downstream oil and gas industry in Australia.
“Combined with UGL’s recent contract wins in LNG maintenance, we are well positioned to deliver solid growth in our base of recurring revenue streams from FY16.”