Amec swoops on oil sands specialist
Engineering giant Amec has stumped up C$45 million (US$44.2 million) for
specialist in-situ oil sands player Bower Damberger Rolseth Engineering
(BDR).
Calgary-based BDR provides specialist technical engineering services to the
heavy oil, gas and oil production industries.
The companies specialises in thermal recovery of in-situ oil via steam
assisted gravity-drainage methods.
Of the initial payment, C$10 million is deferred over three years. Up to a
further C$35 million is payable in five years' time, subject to the
achievement of certain profit targets beyond a threshold
over that period. Completion of the deal is expected later this month.
06 May 2008 09:13 GMT
| last updated:
06 May 2008 09:13 GMT
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