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. 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. 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. GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announce that its wholly-owned subsidiary Production Solutions (Upstream PS) has entered into an agreement with the Australian Government`s Department of Industry, Science, Energy and Resources to provide operations and maintenance services for Northern Endeavour`s floating production, warehouse and taketake (agreement). . 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. We are very pleased to be working with our new client to ensure the safety of the Northern Endeavour. The Cliff Head onshore and offshore platform is managed and maintained by upstream PS and offers a wide range of operations, maintenance and technical integrity services.
The facility consists of an unmanned drilling rig, an onshore pipeline and a land stabilization facility. Since its inception in 2007, PS Upstream has collaborated with C02CRC and provides a number of services ranging from frontal engineering and design to routine operations and maintenance. Upstream, ps has transitioned and efficiently and securely maintained land and offshore facilities as part of an integrated team for these remote assets. . “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 at any time prior to NOGA`s liquidation facilitated the PS`s rapid response upstream and the safe mobilization of the facility. ASX version Public Procurement – Production Solutions Northern Endeavour Northern Endeavour FPSO For more information on the Northern Endeavour Temporary Operations Program, visit www.minister.industry.gov.au/ministers/pitt/media_releases.