G4S Risk Management has secured a contract to provide security services to Iraq’s Basra Gas Company (BGC)
In an announcement made last week, the British multinational security services company revealed the agreement – worth US$187mn – would last for a total of three years, beginning in January 2016.
The deal also includes an option for BGC to extend the arrangement for a further two years which, if exercised, would take its total value to US$270mn.
The company also announced the renewal of a US$155mn security contract with the UK Foreign and Commonwealth Office (FCO) in Afghanistan.
Commenting on the deals, G4S group chief executive Ashley Almanza said, “Our Risk Management and Risk Consulting businesses deliver high quality services to our customers and we are delighted to have been entrusted by both the FCO and BGC to provide these important services.
“These major contract wins reflect G4S’s world class expertise and investment in sophisticated security services.”
BGC – a joint venture between the South Gas Company (51%), Shell (44%) and Mitsubishi (5%) – operates several assets across southern Iraq, including two gas plants, several compressor stations, a marine shipping terminal, an LPG storage terminal, and all the connecting pipelines.