APTIM and joint venture partner BWX Technologies (BWXT) have been awarded a $1.4 billion contract by the US Department of Energy to operate the Strategic Petroleum Reserve and its facilities in Louisiana and Texas, APTIM said Wednesday.
The joint venture, Strategic Storage Partners, will assume SPR operation from June 15 for a five-year period, with an option for the DOE to extend the contract for five years, it said.
SPR's mission is to minimize disruptions of US petroleum supplies through emergency stocks, according to the release.
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