Monadelphous notches $540m contract extension

Established engineering company Monadelphous has furthered its long-term relationship with Woodside Energy through securing a $540 million contract extension.

Monadelphous told the market that it had notched a three-year extension to its maintenance and shutdown services agreement with the oil and gas major on Wednesday. 

The agreement has been extended for a further three years, valued at $180 million per annum, with an additional two year option.  

The scope of work includes maintenance, shutdown and brownfield project services at the onshore and offshore gas production facilities. 

Those plants include the Karratha gas plant, Pluto LNG, North Rankin Complex, Goodwyn A platform and Angel platform in the North West. 

Managing director Zoran Bebic said the extension was a testament to the strengths of the company’s relationship with Woodside. 

“We are extremely proud of the relationship we have developed with Woodside over more than 20 years and are delighted to continue supporting their operations well into the future,” he said. 

Monadelphous’ shares were trading up 1.79 per cent to $15.005 at 1PM AWST.