Empired secures $15 million InterOil managed services contract

18 June 2015

18 June 2015 - Empired has secured a $15 million contract to provide Managed Services to InterOil.

The contract is for a total term of 5 years, structured as an initial 3 year period with a further two 1 year options. Transition services under the contract have commenced. As part of this Empired has established office facilities and hired resources in Singapore.

Empired estimates the value of the contract to be $15m in Revenue over the term of the contract based on a fixed monthly managed services fee plus a conservative estimated level of project work.

InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea. InterOil’s assets include one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licences covering about 16,000sqkm. The company employs more than 2,000 staff and contractors. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.

Under the contract Empired will provide managed services for all of InterOil’s core information technology systems including infrastructure & communications, finance and corporate systems plus exploration and production systems.

Commenting on the contract award, InterOil Chief Information Officer, Mr Jeff Carvell said “InterOil maintains a strong focus on the Elk-Antelope LNG development on the back of positive appraisal results while also drilling to unlock multi-Tcfe outside of Elk-Antelope. It is critical that we select partners with not only the agility to grow and support our international operations but to bring a high degree of service maturity and discipline.”

“We have been through a rigorous selection process leading to contract award. Key to Empired’s success was not only their mature business focused services model but their depth of capability in technical field systems.” 

“We are delighted to have selected Empired as a key strategic partner to support us over the coming years.”

Mr Baskerville said “I am pleased to see our entire services portfolio leveraged to deliver a comprehensive managed services solution to InterOil.”

“This contract will provide Empired a range of growth opportunities. We will enhance our oil and gas expertise through the opportunities InterOil will provide us as they continue the development of their core assets. It will also provide us a low cost, low risk platform to launch our services into the Asian region.”

“I am extremely pleased that InterOil have selected Empired as a key strategic partner and thank them for their trust. I am confident that we will be a valued business partner that provides reliable, high quality services and has the expertise to strategically support their growth.”

Empired ASX Announcement, June 2015


Subscribe

Sign up for our RSS feeds and stay up to date with all the latest news.

Stay up to date with all insights from the Empired blog