Transfield Services wins $190M of new contracts

Transfield Services has been awarded new contracts with QGC Pty Ltd in Queensland and Chorus in New Zealand as part of the installation of the country's Ultra-Fast Broadband (UFB) network. The contracts are worth a combined A$190 million and include:

Transfield Services subsidiary, Easternwell, has been awarded two new contracts with QGC Pty Ltd worth a combined A$90 million, including:

  • a A$50 million contract for two Advantage light well servicing rigs for the continued maintenance of QGC Pty Ltd’s coal seam gas well program in the Surat Basin.
  • a A$40 million contract for a heavy drilling rig for the QGC Pty Ltd’s Tight Gas Sand project in the Bowen Basin.
  • A new A$20 million contract with QGC Pty Ltd to install a pipeline and compression facility near Dalby in Queensland.

Two new contracts with Chorus (NZX: CNU) which, in combination, are worth approximately $NZ88 million, including:

a new five-year agreement for the installation of New Zealand’s Ultrafast Broadband Network in Blenheim, Nelson, Rotorua, Taupo and Whakatane, and a new two-year agreement to deliver the remaining portion of the Rural Broadband Initiative (RBI). This contract is part of the New Zealand government’s programme to install broadband in rural regions of the country. Transfield Services’ scope of work covers the Waikato, Bay of Plenty, Taranaki, Wanganui, Marlborough and Tasman regions.

“Winning leveraged work with existing clients is a fundamental part of the Company’s growth strategy and it is underpinned by high quality service delivery”, said Graeme Hunt, Transfield Services Managing Director and Chief Executive. “This will continue to be a major focus for our business.”

Transfield Services has established a strong presence in Queensland’s burgeoning coal seam gas industry. It also has a longstanding commitment to New Zealand, where it is a leading provider of transport infrastructure and telecommunications services.