InfraStrata, the UK quoted company focused on the development of natural gas storage capacity, has issued an ITT (Invitation to Tender) package for its Islandmagee gas storage project in order to appoint an EPC (Engineering, Procurement and Construction) contractor for construction of the Project.
The issuing of the ITT follows on from the recent completion of the FEED (Front End Engineering Design) and the invitation for expressions of interest in construction of phase 1 of the Project that was issued in September. The expressions of interest received have been evaluated and highlighted the following organisations who have been selected to be included within the ITT round:
- WSP, SNC-Lavalin, Saipem, Petrofac, Fluor, Costain
The ITT includes a package for all surface, subsurface and integration works required to develop the Project. The Project works have been split into phase 1 (two caverns) and phase 2 (six caverns) for a total of 8 caverns and therefore, it is expected that the contract will be awarded in two staged phases in line with the planned construction phases. There is no guarantee that by running this ITT process InfraStrata will find an EPC contractor with which it is able to reach mutually agreeable terms.
The date for receiving ITT returns from potential EPC contractors has been set as 28 February 2019, providing eight clear weeks to formulate responses. InfraStrata is also in the process of finalising the ITT documents for the Owners Engineer package required to oversee the selected EPC contactor. It is expected that package will be issued in the new year.
John Wood, Chief Executive Officer commented:
'We are happy to have released the ITT package before the end of 2018, to ensure that we receive offers back in the early part of next year. Selecting an EPC contractor will be an important step on our road to final investment decision (FID) by the end of H1 2019.'
Further updates will be provided in due course.
Source: InfraStrata
