ASX-listed IT services provider, Empired (ASX:EPD), has secured a $15 million contract to provide managed services for oil and gas company, InterOil.
The contract win will help propel Perth-based Empired into the Asian market.
The five-year contract is made up of an initial three year period with a further two, one year extension options. The contract has an estimated value of $15 million in revenue based on a fixed managed service fee plus a conservative estimated level of project work.
To help fulfill the contract, Empired has established office facilities and hired staff in Singapore.
Empired managing director, Russell Baskerville, said the contract will provide a range of growth opportunities for the business.
“We will enhance our oil and gas expertise through the opportunities InterOil will provide us as they continue the development of their core assets,” Baskerville said. “It will also provide us with a low cost, low risk platform to launch our services into the Asian region.”
Empired will provide managed services for all of InterOil’s core information technology systems including infrastructure and communications, finance, corporate systems and exploration and production systems.
“It is critical that we select partners with not only the agility to grow and support our international operations, but to bring a high degree of service maturity and discipline,” InterOil CIO, Jeff Carvell, said. “We have been through a rigorous selection process. The key to Empired’s success was not only their mature business focused services model, but their depth of capability in technical field systems.”