BWXT Joint Venture Awarded $2.6 Billion Strategic Petroleum Reserve Contract
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The U.S. Department of Energy has awarded BWX Technologies to manage and operate the Strategic Petroleum Reserve.
Strategic Storage Partners was formed by lead parent company APTIM Federal Services and BWXT Technical Services Group to safely manage and operate the structures and systems of the Strategic Petroleum Reserve. The estimated value of the contract is approximately $2.6 billion over 10 years, comprising a five-year base period and one five-year option.
The scope of the contract includes operating and maintaining the Strategic Petroleum Reserve’s facilities and related systems, maintaining the highest levels of quality control, developing and implementing innovative approaches to site operations, and adopting practices fostering continuous improvement.
“As a premier operator of complex, high-consequence facilities in the U.S. and abroad, BWXT is honored to join with APTIM in adding this mission to our portfolio of work for the Department of Energy,” said Heatherly Dukes, president, BWXT Technical Services Group.
“The Strategic Petroleum Reserve is a vital element in protecting our nation’s economic and security interests, and we look forward to bringing our expertise in safe, secure, high-quality operations to this vital part of the nation’s energy infrastructure,” added Dukes.
With an authorized storage capacity of approximately 714 million barrels, the Strategic Petroleum Reserve is the world’s largest supply of emergency crude oil and was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the International Energy Program. The federally owned oil stocks are stored in huge underground salt caverns at four sites in Louisiana and Texas.
BWX Technologies is a U.S.-based Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental restoration, nuclear medicine, and space exploration. With approximately 8,700 employees, BWXT has 15 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at a dozen U.S. Department of Energy and NASA facilities.
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