SNC-Lavalin (TSX: SNC), through its subsidiary, Itansuca Proyectos de Ingeniería S.A.S., has been awarded a consulting services contract by Ecopetrol S.A. for oil transportation and logistics in Colombia. The contract is estimated at $87 million.
SNC-Lavalin will provide project management and technical support and consulting services for several of Ecopetrol’s projects related to oil transportation and associated logistics. Work will be carried out from SNC-Lavalin’s offices in Bogota, Colombia, during a term of approximately two years.
SNC-Lavalin has nearly 1,400 employees in Colombia and is one of the largest engineering suppliers to Ecopetrol. In addition to this contract, SNC-Lavalin is currently providing Ecopetrol with management consulting services for the development of Colombia’s crude oil distribution program.
Ecopetrol is Colombia’s largest company and is among the top 50 oil companies in the world. In addition to its work in Colombia, Ecopetrol participates in exploration and production activities in Brazil, Peru and the United States.
“We are extremely proud of our longstanding relationship with Ecopetrol,” said Terrance N. Ivers, Executive Vice-President, Oil & Gas, SNC-Lavalin Group Inc. “Multi-project service contracts with major resource companies like Ecopetrol provide SNC-Lavalin with revenue stability while allowing us to contribute to the continued growth and success of key clients.”
SNC-Lavalin is one of the leading engineering and construction groups in the world, and is a major player in the ownership of infrastructure and in the provision of operations and maintenance services. Founded in 1911, SNC-Lavalin has offices across Canada and in over 40 other countries around the world, and is currently active in some 100 countries.