SAN FRANCISCO--(BUSINESS WIRE)--June 14, 2005--URS Corporation (NYSE: URS) today announced that it has been awarded contracts by British Petroleum (BP) to perform investigation and remediation services to European operations and to perform environmental consulting and site remediation at BP sites across the Americas. The contracts have a combined maximum value of $130 million for URS.
Commenting on the contracts, Martin M. Koffel, URS Chairman and CEO, said: "These significant awards to URS will further expand our already strong relationship with BP, a longstanding and valued client. As a result of these most recent contract wins with BP, we have become one of its largest suppliers of environmental services in both the Americas and Europe, and its largest supplier of environmental consulting and remediation services globally. We look forward to working with our colleagues at BP on these important projects."
Koffel continued: "Over the past several years, URS has been successfully executing a strategy of building long-term, comprehensive relationships with large multinationals, as these companies move towards fewer, larger contracts that enable them to outsource their environmental engineering and compliance work to a smaller set of providers. URS is one of the few firms with the scale, geographic reach and skill set necessary for these comprehensive assignments. With BP we have taken this strategy to a global scale."
URS will be working under a new Master Service Agreement (MSA) with BP to provide investigation and remediation services at BP's European operations in the United Kingdom, France and the Benelux region. Under the terms of the MSA, URS will provide field investigations, quantitative risk assessments, regulatory interaction, remedial design and system implementation and operation services. The three-year contract has a maximum value to URS of $30 million.
URS will also be providing environmental consulting and site remediation services to BP across the Americas. URS has been a preferred supplier of these services to BP for more than 10 years, and this contract is a continuation and expansion of that business under one MSA. Under the terms of the agreement, URS will be responsible for environmental planning and permitting, remediation assessment and design, project management and construction management services at retail locations, pipelines and refineries, and facilities and other discontinued operations. The two-year contract has a maximum value to URS of $100 million.
URS Corporation offers a comprehensive range of professional planning and design, systems engineering and technical assistance, program and construction management, and operations and maintenance services for transportation, commercial/ industrial, facilities, environmental, water/wastewater, homeland security, installations and logistics, and defense systems. Headquartered in San Francisco, the Company operates in more than 20 countries with approximately 27,800 employees providing engineering and technical services to federal, state and local governmental agencies as well as private clients in the chemical, pharmaceutical, oil and gas, power, manufacturing, mining and forest products industries (www.urscorp.com).
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