Empired drills down into $15 million InterOil contract
- 17 June, 2015 08:14
ASX-listed IT services company, Empired Limited, has secured a contract to provide Managed Services to InterOil Corporation Limited, also known as InterOil.
According to both parties, the contract is for a total term of five years, structured as an initial three-year period with a further two, one-year options.
Transition services under the contract have commenced and as part of the deal, Empired has established office facilities and hired resources in Singapore.
At present, Empired estimates the value of the contract to be AU$15 million in revenue over the term of the contract based on a fixed monthly managed services fee plus a conservative estimated level of project work.
“I am pleased to see our entire services portfolio leveraged to deliver a comprehensive managed services solution to InterOil,” says Russell Baskerville, Managing Director, Empired.
“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.”
InterOil Corporation is an independent oil and gas business with a primary focus on Papua New Guinea, with assets including one of Asia’s largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licences covering about 16,000sqkm.
Currently, the company employs more than 2,000 staff and contractors with its main offices in Singapore and Port Moresby.
Under the contract Empired will provide managed services for all of InterOil’s core information technology systems including infrastructure and communications, finance and corporate systems plus exploration and production systems.
“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,” adds Jeff Carvell, CIO, InterOil.
“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.”
With a team of over 800 people across the world, Empired is located throughout Australia, New Zealand, North America and Singapore.