ENGINEERING and consulting services company LogiCamms has been awarded a capital works contract by gas transmission company Epic Energy South Australia for work on Epic’s Moomba to Adelaide Pipeline (MAPS).
The contract involves Engineering, Procurement and Construction (EPC) services for brownfield projects along the MAPS, with initial works having already commenced and with completion expected in mid-2015.
Epic Energy is an existing client of LogiCamms and the award follows the successful completion of Front End Engineering Design on the project.
The contract for the remaining works is about $18 million, with this value expected to be attributed to financial year 2015.
LogiCamms’ Managing Director Matthew Adamo said the company was pleased to be participating in the project.
“Our expanding capabilities in oil and gas processing, pipelines and facilities have helped to position LogiCamms optimally for opportunities such as these with Epic,” he said.
“Backed by our expertise across gas production and delivery infrastructure, this significant award is a further reflection of our reputation as a lean and flexible provider of solutions to oil and gas companies.”
The news came as LogiCamms announced a net profit after tax of $5 million for the 2014 financial year – in line with its previous guidance.
LogiCamms said it was expecting a growth in revenue for the coming year, with an earnings before interest, tax, depreciation and amortisation margin of between eight per cent and 10%.
“LogiCamms has prioritised the implementation of key growth initiatives and the transition program that is resetting the business for high performance within a challenging market environment,” Mr Adamo said in an announcement.