Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • SNC-Lavalin announces agreement to sell Resources Oil & Gas business
    édité le 10/02/2021 - Plus de news de "SNC-LAVALIN" - Voir la fiche entreprise de "SNC-LAVALIN"


SNC-Lavalin announces agreement to sell Resources Oil & Gas business
SNC-Lavalin Group Inc. (TSX: SNC), a fully integrated professional services and project management company, has entered into a binding agreement to sell its Resources Oil & Gas business, a significant step forward in the Company’s strategy to reduce its risk profile and accelerate its ongoing transition to becoming a leading provider of professional engineering services and project management solutions.

Strategic divestiture of the Resources Oil & Gas business

On February 8, 2021, SNC-Lavalin Group Inc. entered into a binding agreement to sell its Oil & Gas business, including Services and LSTK, to Kentech Corporate Holdings Limited. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and the closing is targeted for Q2 2021.

In line with the Company’s strategy, the sale of the business, which includes all ongoing and recently completed Oil & Gas LSTK projects, is expected to significantly reduce operational and execution risks and will simplify the Company’s corporate structure and enable management to dedicate more time, effort and resources to growing the higher margin and more stable Engineering Services business. The transaction is also an important milestone in the Company’s journey towards its sustainability business strategy, as highlighted in the Company’s 2019 Sustainability Report.

At closing, the transaction is expected to create a gain on sale. The Oil & Gas business will be classified as an “Asset Held for Sale” in Q4 2020 and is expected to result in a fair value write down in the range of $260 to $295 million, which is almost entirely non-cash in nature. At closing, the transaction is expected to generate a gain on the sale in excess of the fair value write down, after accounting for the elimination of foreign exchange CTA included in the historical carrying amounts of the disposed Oil & Gas business.

The remaining Resources business will be mainly comprised of Services projects in the Mining & Metallurgy (“M&M”) sector. The remaining Resources project positions, including historical claims and litigation matters, have been reassessed based on the latest information, including ongoing commercial discussions with clients. An updated cost forecast was also completed in Q4 2020 on the one remaining Resources M&M LSTK project, which is expected to be completed in 2021. Based on these actions for the remaining Resources business, a charge of approximately $95 million, for which approximately 30% is non-cash, will be taken in Q4 2020.

About SNC-Lavalin

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset lifecycle. Our expertise is wide-ranging — consulting & advisory, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and sustaining capital – and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources, supported by Capital.

About Kentech

Kentech’s delivery of complex construction projects is enhanced by a legacy of more than 100 years of global knowledge and experience. Since the foundation of M.F Kent in 1919, we have delivered successful projects in some of the world’s harshest and most remote locations.


Origine : Communiqué SNC-LAVALIN

Voir la fiche entreprise de "SNC-LAVALIN"



Les dernières news de "SNC-LAVALIN"



Toutes les news de "SNC-LAVALIN"
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi acquisition adnoc aker-bp aker-solutions algeria algerie algerie alstom anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi cgg chevron china chiyoda cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt engie engineering eni equinor equinor exxonmobil feed flng fluor fluxys foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge germany ghana gnl gtt gulf-of-mexico guyana halliburton hess india indonesia inpex iraq italy jacobs jgc kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mexico mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pemex petoro petrobras petrofac petronas pgnig pipeline platform production qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger senegal shale-gas shell socar sonatrach statoil subsea subsea-7 survey tap technip technipfmc texas total tullow turbine ufip uk us vallourec vopak well wintershall wood-group woodside



Europétrole © 2003 - 2021