Worleyparsons Limited (ASX: WOR) announced today that it had been awarded a contract extension by Chevron Australia to continue providing services to support Chevron's assets in Australasia.
According to the announcement, WorleyParsons will "continue to provide brownfield engineering services to support the onshore and offshore Gorgon and Wheatstone LNG assets and the Barrow and Thevenard Islands oil assets in Western Australia".
WorleyParsons had held the contract for five years and the extension is for a further two years with options for one additional two-year term and one additional one-year term.
The WorleyParsons share price was up 2% at the time of writing.
Worley Parsons is set to benefit from rising oil prices along with top companies Woodside Petroleum Limited (ASX: WPL), Oil Search Limited (ASX: OSH) and Beach Energy Ltd (ASX: BPT).
