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ClearStream announces new contracts

Published by , Editorial Assistant
Hydrocarbon Engineering,

ClearStream Energy Services Inc. has announced several contract renewals and new project awards. The contract renewals are with major upstream, midstream and downstream energy companies in Canada, representing a 100% contract renewal rate for the fourth year in a row. Those renewals, together with new project awards from upstream and midstream energy and petrochemical companies, are estimated to generate approximately CAN$80 million in new backlog.

ClearStream’s Flint, UWO and Environmental divisions will be executing the work, which will consist of facility and pipeline construction, maintenance, turnarounds, heavy equipment operators and environmental professional services. A portion of the work will commence immediately with the remainder expected to start in the 1Q20.

“We are pleased with the successful contract renewals and with securing new business in our expanded market segments, since our recent acquisitions in June 2019 and the launch of UWO and Flint, divisions of ClearStream. This is a true reflection of our clients’ confidence that we can offer a comprehensive scope of services throughout the complete project lifecycle,” said Yves Paletta, CEO.

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Downstream news Downstream contract news North America downstream news